Yext, Inc. (NYSE: YEXT) has recently announced that its CEO and Chairman of the Board of Directors, Michael Walrath, has submitted a proposal to acquire all outstanding shares of the company not already owned by him at a price of $9.00 per share in cash. This proposal is backed by reputable and well-capitalized financing sources, subject to customary confirmatory diligence.
In connection with this proposal, Yext's board of directors has formed a special committee of independent directors to evaluate the offer. The special committee will work with its legal and financial advisors to carefully review and consider the proposal, as well as any other strategic alternatives that may be available, consistent with its fiduciary duties to stockholders.
Yext also provided an outlook for the fourth quarter and fiscal year 2025, stating that it expects its results for the quarter ended July 31, 2025 to be within or better than its previously stated guidance ranges as provided in its letter to stockholders dated June 3, 2025. However, in light of the pending proposal, Yext has decided not to hold a corresponding conference call and is withdrawing its guidance for the remainder of the full fiscal year 2026 as provided in its letter to stockholders dated June 3, 2025.
Yext is the leading brand visibility platform, providing brands with the clarity, control, and confidence to perform across digital channels. Powered by over 2 billion trusted data points and a suite of integrated products, Yext turns a brand's digital presence into a competitive advantage.
As of now, there can be no assurance that the proposal will result in any transaction, or that any transaction will be approved or consummated. Following these announcements, the company's shares moved 0.87%, and are now trading at a price of $8.09. For the full picture, make sure to review Yext's 8-K report.
