Technology stocks were falling premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.5% lower and the State Street SPDR S&P Semiconductor ETF (XSD) down 2.2%.

Tenable Holdings (TENB) shares were down more than 5% after the company said it plans to offer $650 million of convertible senior notes due 2031 in a private placement.