WASHINGTON (dpa-AFX) - Dynatrace, Inc. (DT), an AI-powered observability platform, on Monday announced that its indirect wholly owned subsidiary, Dynatrace LLC, plans to offer $1.25 billion aggregate principal amount of exchangeable senior notes due 2031 in a private placement.
The company also expects to grant initial purchasers an option to purchase up to an additional $187.5 million of notes.
The notes will mature on September 1, 2031, unless earlier exchanged, redeemed or repurchased.
The notes will be exchangeable for cash, shares of its common stock, or a combination of both, at the issuer's election.
The company intends to use a portion of the net proceeds to fund exchangeable note hedge transactions.
The company said that up to approximately $200 million will be used to repurchase shares of common stock from certain purchasers of the notes through privately negotiated transactions.
The company said remaining proceeds will be used for general corporate purposes.
In the pre-market trading, Dynatrace is 1.30% lesser at $48.50 on the New York Stock Exchange.
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