Tenable Announces $650 Million Convertible Notes Offering, Shares Drop 7%
Tenable Holdings Inc. (NASDAQ:TENB) announced a $650 million convertible notes offering due in 2031, leading to a 7% decline in its shares during premarket trading on September 10, 2026. The private placement includes an option for initial purchasers to buy up to an additional $65 million of notes within 13 days after issuance. Tenable plans to use part of the proceeds from this offering to fund capped call transactions and repurchase up to $200 million in common stock, while also repaying its senior secured term loans. The company aims to reduce potential dilution through these capped calls and may establish a new revolving credit facility post-offering. However, there is no assurance regarding the completion or terms of this new facility. The notes are unregistered under U.S. securities laws and will be offered without registration unless an exemption applies.
Tickers: $TENB