Check Point Software Technologies announced a private offering of $1.5 billion of 0.00% convertible senior notes due 2030, available to qualified institutional buyers under Rule 144A.
The notes carry no coupon, mature on December 15, 2030, and include a conversion feature that can be exercised after September 16, 2030. Purchasers also have the option to buy an additional $225 million of notes within a 13‑day settlement period.
Proceeds will be used for capped call transactions, a share‑repurchase program of up to $225 million, and general corporate purposes such as future acquisitions and product development.
The transaction preserves Check Point’s zero‑debt balance sheet while providing liquidity that can be deployed to accelerate its AI‑first strategy, including the recent acquisition of Lakera, and to manage potential dilution from the convertible notes.
In its Q3 2025 earnings, Check Point reported revenue of $678 million, up 7% year‑over‑year, and GAAP EPS of $3.28, a 79% increase, with Non‑GAAP EPS of $3.94, a 75% rise, underscoring strong demand for its security portfolio.
CEO Nadav Zafrir highlighted the quarter’s performance, noting that “Check Point delivered strong third‑quarter results, driven by increased demand for our portfolio including Hybrid‑Mesh‑Network, Workspace and External Risk Management (ERM). We also advanced our AI First strategy through the strategic acquisition of Lakera, strengthening our position to deliver a comprehensive, full‑stack AI‑powered security platform and expand our leadership in next‑generation cyber defense.”
The convertible notes offering positions Check Point to continue investing in AI‑powered security solutions, pursue strategic acquisitions, and maintain financial flexibility, reinforcing confidence in its growth trajectory while safeguarding shareholder value through planned share repurchases.
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