Yext CEO, Michael Walrath, has proposed to acquire all outstanding shares of the company at $9.00 per share in cash.
The proposal is backed by reputable financing sources and is subject to confirmatory diligence.
The Board of Directors has formed a Special Committee to evaluate the proposal.
Yext plans to release its fiscal year 2026 second quarter results in early September without a conference call due to the pending proposal.
Acquisition Proposal
CEO Michael Walrath proposed to acquire all outstanding shares at $9.00 per share in cash.
Special Committee Formed
The Board of Directors formed a Special Committee to evaluate the proposal.
Financial Guidance
Yext is withdrawing its guidance for the full fiscal year 2026 due to the pending proposal.
- The proposal aims to maximize stockholder value and explore strategic alternatives.
- Yext's commitment to transparency and stockholder value is highlighted through the Board's actions.
- The pending proposal may impact Yext's financial performance and future strategic direction.
Yext's CEO has shown openness to alternative bidders in pursuit of maximizing stockholder value, emphasizing the importance of delivering value to stockholders.