Yext, Inc. (NYSE: YEXT) has announced that its CEO and Chairman of the Board of Directors, Michael Walrath, has proposed 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 and is subject to customary confirmatory diligence.
In connection with the proposal, Mr. Walrath has expressed his commitment to the company, its employees, and its stockholders. He has also indicated his openness to working with other qualified bidders and supporting a full process and superior proposals if received.
Yext's board of directors has formed a special committee of independent directors to evaluate the proposal. The special committee has retained BofA Securities as its financial advisor and Wilson Sonsini Goodrich & Rosati as its legal advisor.
Regarding the company's financial performance, Yext expects its results for the quarter ended July 31, 2025, to be within or better than its previously stated guidance ranges. 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 of now, there is no assurance that the proposal will result in any transaction, or that any transaction will be approved or consummated.
Yext (NYSE: YEXT) is a leading brand visibility platform, providing brands with clarity, control, and confidence to perform across digital channels. Thousands of leading brands rely on Yext to stay visible, stay ahead, and grow. Today the company's shares have moved 11.68% to a price of $9.035. For more information, read the company's full 8-K submission here.
