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Palo Alto Networks Facing $3.7 Billion Bill on Convertible Notes

Window for conversion is now open through October and could dilute current shareholders.

September 15, 2022

Palo Alto Networks, Inc. (PANW), a cybersecurity solutions provider, warns the window is now open for lenders to convert their notes. Between August 1- October 31, 2022, Palo Alto says holders of its 2023 and 2025 notes can convert. In its latest quarterly filing, the company warned it would have to pay $3.7 billion if all noteholders decide to convert.

For any amounts above the principal amount, Palo Alto can pay with cash or stock.

Palo Alto reported $2.1 billion cash at quarter’s end.


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