(Reuters) – Anaplan (NYSE:) Inc stated Monday that Thoma Bravo, a private-equity firm, has lowered its takeover offer of the software manufacturer to $9.60 Billion from $10.7 Billion.

Anaplan shares have increased nearly 44% over the past year. However, they were only 4% lower in premarket trades.

Shareholders will receive $63.75 per shares, as opposed to the $66 offer.