CyberArk Software (CYBR) Stock Down After Pricing Offering

NEW YORK (TheStreet) -- Shares of CyberArk Software (CYBR) were falling 0.5% to $63.05 on heavy trading volume Thursday after the software company priced the 4.9 million ordinary shares in its public offering.

CyberArk Software priced the 4.9 million ordinary shares in the offering at $61 a share. Of the shares in the offering, 4 million will be sold by shareholders of the company. CyberArk will offer the remaining 900,000 shares in the offering.

The selling shareholders granted the underwriters of the offering a 30-day option to buy an additional 735,000 shares.

The offering is expected to close on June 16. CyberArk will not receive any proceeds from the shares sold by the shareholders.

About 4.4 million shares of CyberArk were traded by 12:59 p.m. Thursday, above the company's average trading volume of about 2.1 million shares a day.

CYBR ChartCYBR data by YCharts

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