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Crowdstrike Slides After Large Block Trade Is Said Offered

Drew Singer

(Bloomberg) -- Crowdstrike Holdings Inc. fell 1.5% in post-market trading as people familiar with the matter said a large block of shares is changing hands overnight.

Credit Suisse is lining up buyers for a five-million share stake in the cybersecurity firm, the people said. The bank is offering the shares on behalf of an unknown shareholder at $53.60 to $53.80 each, a maximum 2.7% discount to Monday’s closing price.

Shares closed on Monday with an 8.6% gain as investors bet the increased risk of Iranian cyber-attacks in the U.S. will result in more business for Crowdstrike and other cybersecurity companies.

The offering comes less than one month after Crowdstrike’s initial public offering lockup period expired. Shares closed on Monday 62% above the initial public offering price.

(Updates with lockup expiration details. A previous version corrected the bank managing the sale.)

--With assistance from Jeran Wittenstein.

To contact the reporter on this story: Drew Singer in New York at dsinger28@bloomberg.net

To contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Jeran Wittenstein

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