Paul Hastings Advises on Thoma Bravo's $374M CyberArk Share Offering
Deal News | Dec 09, 2024 | Paul Hastings
Paul Hastings LLP is advising BofA Securities in its role as the sole book-running manager for a secondary offering from Thoma Bravo involving $374 million of CyberArk ordinary shares. Expected to close in December 2024, pending customary conditions, this transaction underscores CyberArk's standing as a global leader in identity security. Leading the transaction from Paul Hastings are David Ambler and Colin Diamond, supported by a team that includes Of Counsel Shai Marshall and associates Julia Welch and Ruonan Song.
Sectors
- Legal Services
- Investment Banking
- Financial Services
- Cybersecurity
Geography
- United States – The participants, including Paul Hastings, BofA Securities, and Thoma Bravo, are based in the United States, and the NASDAQ listing denotes the U.S. financial market's involvement.
Industry
- Legal Services – The article highlights the advisory role of Paul Hastings, a top law firm, in managing intricate financial transactions and offering legal services to investment banks and corporations.
- Investment Banking – BofA Securities, as a sole book-running manager, exemplifies the role of investment banking in structuring and managing the financial aspects of the secondary share offering.
- Financial Services – Thoma Bravo's involvement in selling shares points to the private equity sector and its dynamic role in financial markets.
- Cybersecurity – CyberArk's core business focuses on identity security, a critical aspect of the cybersecurity industry.
Financials
- $374 million – The size of the secondary offering by Thoma Bravo of CyberArk shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Paul Hastings LLP | Legal Advisor | Company | A premier law firm providing intellectual capital and execution globally in finance, M&A, and other sectors. |
| BofA Securities | Sole Book-Running Manager | Company | A leading investment bank managing the secondary offering for Thoma Bravo. |
| Thoma Bravo | Seller | Company | A private equity firm selling ordinary shares of CyberArk. |
| CyberArk | Target Company | Company | A global leader in identity security listed on NASDAQ. |
| David Ambler, Colin Diamond, Shai Marshall, Julia Welch, Ruonan Song | Legal Advisors | People | Team from Paul Hastings leading and supporting the legal advisory for the deal. |