CyberArk Software Ltd. Merger Agreement with Palo Alto Networks, Inc.

SEC Filing 6-K (0001104659-25-072482)

On July 30, 2025, CyberArk Software Ltd. entered into an Agreement and Plan of Merger with Palo Alto Networks, Inc. (PANW) and Athens Strategies Ltd., a wholly owned subsidiary of PANW. Under the agreement, Athens Strategies Ltd. will merge with and into CyberArk, with CyberArk continuing as the surviving corporation and becoming a wholly owned subsidiary of PANW. Each outstanding ordinary share of CyberArk will be converted into the right to receive 2.2005 shares of PANW common stock and $45.00 in cash. The merger is subject to customary closing conditions, including shareholder approval, regulatory approvals, and the absence of a material adverse effect. The merger has been unanimously approved by the boards of directors of both CyberArk and PANW. If completed, CyberArk shares will be delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934.