Thoma Bravo to sell about $500 million in Dynatrace stock

Dynatrace Inc.
DT,
-3.01%
said Wednesday its stockholder Thoma Bravo is selling 10 million shares of its stock. Dynatrace stock was down 3.8% in premarket trading. Based on the stock’s closing price of $52.54 a share on Tuesday, the stock sale will generate about $525 million in proceeds. Thoma Bravo will continue to own about 30.6 million shares of the Waltham, Mass.-based cloud software company after the offering. Thoma Bravo took Dynatrace public in August, 2019 at a price of $16 a share.