New York, Feb 9, 2026, 18:13 EST — After-hours
- CyberArk shares climbed after Nasdaq reported the Palo Alto Networks merger is set to close ahead of the opening bell on Feb. 11.
- Nasdaq says it plans to halt CYBR after Tuesday’s after-hours session. Should the deal go through, trading will be suspended the following day.
- Monday’s Palo Alto price puts the cash-and-stock offer at about $410 a share.
CyberArk Software (CYBR) stock jumped Monday, after Nasdaq indicated that its merger with Palo Alto Networks is on track to wrap up before the bell on Feb. 11.
The countdown just got real for traders. CyberArk shares are set to trade for the final time on Tuesday, with trading slated to stop shortly after the bell. For those zeroed in on the deal, this timing is the headline—company news fades in comparison this week.
Palo Alto’s stock comes back into focus here, since the bulk of the payout is in shares. Any swing in Palo Alto shifts the deal’s implied value, and CyberArk typically tracks right along.
CyberArk shares climbed roughly 4.4% to $409.22 in the late session. Palo Alto Networks (PANW) also gained, up 4.2% at $166.00.
Nasdaq announced CyberArk will be halted right after the after-hours session wraps up, around 7:50 p.m. ET on Feb. 10. If the merger goes through as expected, the halt stays in place Feb. 11. The exchange said trading in the shares will be suspended as of Feb. 12. Shareholders are to get $45 in cash plus 2.2005 shares of Palo Alto common stock for every CyberArk share they hold. 1
With Palo Alto’s recent price, the buyout values CyberArk at about $410.28 a share—putting the stock less than a dollar away from that theoretical figure. That narrow difference is the spread merger-arb funds keep an eye on to gauge how cleanly a deal might close.
With the exchange ratio locked in, CyberArk’s value moves in step with Palo Alto’s stock up until closing day. Any shift in Palo Alto shares hits CyberArk immediately—regardless of whether there’s news specific to CyberArk. If Palo Alto falls, the gap can widen quickly.
CyberArk develops identity security software designed to manage and track privileged access. When shareholders gave the green light to the acquisition last November, CEO Matt Cohen described the move as a push to safeguard “every identity — human, machine, and AI.” 2
Still, the close remains tagged as tentative, hinging on outstanding conditions. A hiccup—be it a regulatory hold-up or a last-minute tweak in the halt timeline—could throw the spread off and force event-driven traders to race for the doors.
Tuesday shapes up as the probable last shot for trading CyberArk shares, with a halt anticipated at roughly 7:50 p.m. ET and eyes on the merger’s timing—whether it wraps up ahead of Wednesday’s opening bell on Feb. 11.
