CyberArk Software Completes Merger with Palo Alto Networks; Shares to Delist

summarizeSummary

CyberArk Software Ltd. has completed its merger with Palo Alto Networks, Inc., becoming a wholly-owned subsidiary. CyberArk shares will be delisted from Nasdaq.

check_boxKey Events

• Merger Completion

  CyberArk Software Ltd. completed its merger with Palo Alto Networks, Inc. on February 11, 2026, making CyberArk a wholly-owned subsidiary of Palo Alto Networks.

• Merger Consideration

  Each outstanding CyberArk ordinary share was converted into the right to receive 2.2005 shares of Palo Alto Networks common stock and $45.00 in cash.

• Nasdaq Delisting

  The company notified Nasdaq of the merger completion and requested the delisting of CyberArk shares, with termination of SEC registration expected in approximately 10 days.

• Convertible Notes Amended

  The 0.00% Convertible Senior Notes due 2030 were amended to allow conversion into the merger consideration (Palo Alto Networks shares and cash), and Palo Alto Networks will guarantee these notes.

auto_awesomeAnalysis

This filing confirms the completion of the previously announced merger, marking the end of CyberArk Software Ltd. as an independent publicly traded entity. Shareholders will receive a combination of cash and Palo Alto Networks stock, integrating them into the acquiring company. The immediate consequence is the delisting of CyberArk shares from Nasdaq, which is a definitive event for investors. The amendments to convertible notes and capped call transactions ensure that existing financial instruments are appropriately adjusted and guaranteed under the new corporate structure, providing clarity for debt holders and derivative counterparties.