Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Zscaler, Inc. of $1.15 billion aggregate principal amount of its 0.125% convertible senior notes due 2025, including $150 million aggregate principal amount of convertible senior notes pursuant to the exercise of the initial purchasers’ option to purchase additional securities. In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

Zscaler’s services create fast, secure connections between users and applications, regardless of device, location or network. Zscaler’s common stock is listed on the Nasdaq Global Select Market under the symbol “ZS.”

The Davis Polk corporate team included partners Alan F. Denenberg and Emily Roberts and associates Blake Anderson and Paula Gergen. The equity derivatives team included partner Mark J. DiFiore, counsel Justin Michael and associate Ben Somogyi. The tax team included partner Lucy W. Farr and associate Ben Levenback. Partner Pritesh P. Shah provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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