Business
Yext CEO Submits Non-Binding Acquisition Proposal; Expresses Openness to Alternative Bidders in Pursuit of Maximizing Stockholder Value
NEW YORK, August 18, 2025--Yext, Inc. (NYSE: YEXT), the leading brand visibility platform, today announced that Michael Walrath, its Chief Executive Officer and Chairman of the Board of Directors, 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. Mr. Walrath has indicated that the proposal is backed by reputable and well-capitalized financing sources that have expressed support for the proposal subject to cus
About this update from Yext, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/2eb49fe438e35016d95ad0b3af56dcc7"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/v0C6gdRCgsg6Qc5MaoQx9A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTk2MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/2eb49fe438e35016d95ad0b3af56dcc7","width":480,"height":480}},"lazy":false},{"type":"text","content":"NEW YORK, August 18, 2025--(BUSINESS WIRE)--Yext, Inc. (NYSE: YEXT), the leading brand visibility platform, today announced that Michael Walrath, its Chief Executive Officer and Chairman of the Board of Directors, 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. Mr. Walrath has indicated that the proposal is backed by reputable and well-capitalized financing sources that have expressed support for the proposal subject to customary confirmatory diligence.","length":547,"tagName":"p"},{"type":"text","content":"In connection with the proposal, Mr. Walrath emphasized his ongoing commitment to the Company, its employees, and its stockholders, while also making clear his willingness to work constructively with other qualified bidders and to support a full process and superior proposals if received.","length":289,"tagName":"p"},{"type":"text","content":""Yext has achieved remarkable progress, and I believe now is the right time to explore a transaction that can deliver compelling value to stockholders," said Mr. Walrath. "While I am prepared to lead such a transaction at $9.00 per share, I am equally committed to ensuring that our stockholders have the opportunity to realize the best possible outcome, whether that be through my proposal or a superior alternative."","length":438,"tagName":"p"},{"type":"text","content":"Yext’s Board of Directors has formed a Special Committee of independent directors to evaluate the proposal. 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.","length":345,"tagName":"p"},{"type":"text","content":"The Special Committee...