Varonis Systems (VRNS) Prices 2.3M Share Upsized Follow-On Offering at $195/Sh

February 11, 2021 6:41 AM EST

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Varonis Systems, Inc. (NASDAQ: VRNS) today announced it has priced its upsized underwritten public offering of 2,307,693 shares of its common stock, at a price of $195.00 per share, for total gross proceeds of approximately $450 million, before deducting the underwriters' discount and estimated offering expenses payable by Varonis. Varonis granted the underwriters of the offering a 30-day option to purchase up to an additional 346,153 shares of common stock. The offering is expected to close on February 16, 2021, subject to customary closing conditions.

Varonis intends to use the net proceeds from this offering for general corporate purposes, including working capital and capital expenditures, and for potential acquisitions, including complementary businesses, technologies or assets.

J.P. Morgan Securities LLC, Barclays Capital Inc., Jefferies LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Needham & Company, LLC, Cowen and Company, LLC, JMP Securities LLC, Mizuho Securities USA LLC, Piper Sandler & Co., Truist Securities, Inc., William Blair & Company, L.L.C, The Benchmark Company, LLC, Craig-Hallum Capital Group LLC, D.A. Davidson & Co. and Wedbush Securities, Inc. are acting as co-managers for the offering.



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