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Software intelligence company Dynatrace (NYSE: DT) announced an underwritten public offering of 15,000,000 shares of common stock by selling stockholders, with a potential additional 2,250,000 shares available through an underwriter option. BofA Securities is the sole underwriter for this offering. Dynatrace will not receive proceeds from the sale but will cover registration costs excluding underwriting discounts. The offering is subject to market conditions. A registration statement on Form S-3 has been filed with the SEC, and full terms will be disclosed in a prospectus supplement.
Positive
Potential for increased market liquidity through the public offering.
BofA Securities is managing the offering, indicating institutional confidence.
Negative
Dynatrace will not benefit financially from the sale of shares, as proceeds go to selling stockholders.
The offering could lead to shareholder dilution if additional shares are sold.
WALTHAM, Mass.--(BUSINESS WIRE)--
Software intelligence company, Dynatrace, Inc. (NYSE: DT), announced today the commencement of an underwritten public offering of 15,000,000shares of common stock by certain selling stockholders of Dynatrace. Such selling stockholders will also grant the underwriter a 30-day option to purchase up to an additional 2,250,000 shares of Dynatrace’s common stock. Dynatrace will not receive any of the proceeds from the sale of the shares being offered by the selling stockholders but will bear the costs associated with the registration of such shares, other than underwriting discounts and commissions and other similar expenses.
BofA Securities is acting as the sole underwriter for the offering.
BofA Securities may offer the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
A registration statement on Form S-3 relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and became effective when filed on August 3, 2020. The proposed offering will be made only by means of a prospectus and prospectus supplement. A copy of the preliminary prospectus supplement relating to this offering may be obtained, when available, by visiting the SEC’s website at www.sec.gov or by contacting the offices of BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@bofa.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Dynatrace
Dynatrace exists to make the world’s software work perfectly. Our unified software intelligence platform combines broad and deep observability and continuous runtime application security with the most advanced AIOps to provide answers and intelligent automation from data at an enormous scale. This enables innovators to modernize and automate cloud operations, deliver software faster and more securely, and ensure flawless digital experiences. That is why the world’s largest organizations trust Dynatrace® to accelerate digital transformation.
Forward Looking Statements
This press release contains forward looking statements, including among other things, statements concerning the completion of the public offering, and other statements identified by words such as “could,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” or similar expressions and the negatives of those terms. Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond Dynatrace’s control. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities, and other risks set forth under the heading “Risk Factors” in Dynatrace’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, the preliminary prospectus related to the public offering and in subsequent filings made by Dynatrace with the SEC. Forward-looking statements speak only as of the date hereof, and, except as required by law, Dynatrace undertakes no obligation to update or revise these forward-looking statements.
Dynatrace announced an underwritten public offering of 15,000,000 shares of common stock by selling stockholders, with an option for an additional 2,250,000 shares.
When was the last time Dynatrace filed with the SEC?
Dynatrace filed a registration statement on Form S-3 with the SEC, which became effective on August 3, 2020.
Who is the underwriter for Dynatrace's stock offering?
BofA Securities is acting as the sole underwriter for Dynatrace's public stock offering.
Will Dynatrace receive any proceeds from the stock offering?
No, Dynatrace will not receive any proceeds from the sale of the shares being offered by selling stockholders.
What is the impact of the stock offering on shareholders?
The public offering may lead to shareholder dilution, as additional shares are sold by stockholders.
