Dynatrace raises $1.4375B via 0% exchangeable senior notes due 2031

Dynatrace, Inc.

Issued $1.4375B aggregate principal of 0.00% exchangeable senior notes due 2031; includes $187.5M from full greenshoe exercise.
Net proceeds ~$1.411B; ~$167.8M for exchangeable note hedge (net of warrant proceeds), ~$134.7M to repurchase 2.83M shares at $47.61.
Initial exchange rate 15.5585 shares/$1,000 (price ~$64.27, 35% premium); warrants strike $107.1225 (125% premium).
Notes mature Sept 1, 2031; no interest; redeemable after Sept 6, 2029 if stock >=130% of exchange price for 20/30 days.
Terminated existing senior secured revolving credit facility; outstanding letters of credit cash collateralized.

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