CyberArk Software Inc. Prepares for Secondary Offering on Wall Street

Strategic Insights -

Israeli enterprise security company CyberArk Software Inc. is moving closer to its secondary offering on Wall Street, with plans to sell 4 million shares worth $240 million. The company's largest shareholder, Jerusalem Venture Partners (JVP), will sell shares worth $115 million and retain a 30.3% holding. Goldman Sachs, the underwriter for the offering, will sell shares for $53 million and see its stake fall to 15.8%. Two executives will also sell shares: Amnon Shoshani, a board member, will sell shares worth $4.16 million, and founder and CEO Amnon Mokadi will sell shares worth $7 million, retaining $59 million after the offering.

Key Takeaways:

  • CyberArk Software Inc. plans to sell 4 million shares worth $240 million in a secondary offering on Wall Street.
  • Jerusalem Venture Partners (JVP), the company's largest shareholder, will sell shares worth $115 million and retain a 30.3% holding.
  • Goldman Sachs, the underwriter for the offering, will sell shares for $53 million and see its stake fall to 15.8%.
  • Two executives, Amnon Shoshani (board member) and Amnon Mokadi (founder and CEO), will sell shares worth $4.16 million and $7 million, respectively, with Mokadi retaining $59 million after the offering.
  • The company's share price fell 4.9% on Friday to $59.78, giving a market cap of $1.77 billion, 274% above its IPO price six months ago.
  • CyberArk's product is designed for internal enterprise security, focusing on the management and monitoring of privileged accounts to prevent sensitive information from leaking outside the organization.

Statistics:

  • $240 million: Total value of shares to be sold in the secondary offering.
  • $115 million: Value of shares sold by Jerusalem Venture Partners (JVP).
  • $53 million: Value of shares sold by Goldman Sachs.
  • $4.16 million: Value of shares sold by Amnon Shoshani, a board member.
  • $7 million: Value of shares sold by Amnon Mokadi, founder and CEO.
  • 30.3%: Percentage of shares retained by Jerusalem Venture Partners (JVP) after the offering.
  • 15.8%: Percentage of shares held by Goldman Sachs after the offering.
  • $1.77 billion: Market capitalization of CyberArk Software Inc. after the share price fell 4.9% on Friday.
  • 274%: Percentage increase in market capitalization above CyberArk's IPO price six months ago.

Sources:

  • "CyberArk Software Inc. Prepares for Secondary Offering on Wall Street" by Globes (Tel Aviv, Israel) (c)2015
  • "Israeli enterprise security company CyberArk Software Inc." (no date)