Software Intelligence Firm Dynatrace Prices IPO to Raise $427M
Summary
Dynatrace will be listed on the New York Stock Exchange under the ticker “DT.” At the middle of the price range, the company market cap will be $3.5 billion. Dynatrace says if it sells at $12 per share, it expects to pocket $381.1 million from the public stock offering, after the IPO underwriters take their cut. Proceeds from the public offering will be used “to increase our capitalization and financial flexibility,” as well as provide liquidity for existing shareholders, the company said when it filed its initial paperwork with the SEC for the stock sale. Dynatrace makes intelligence software to help businesses manage their applications across complex systems like multiple cloud services and on-demand computing operations. Private equity firm Thoma Bravo will maintain a 71.4 percent controlling stake in the company after the public offering.
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