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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pluralsight Inc | NASDAQ:PS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.45 | 22.00 | 22.52 | 0 | 01:00:00 |
NEW YORK, Dec. 28, 2020 /PRNewswire/ -- Akaris Global Partners, LP ("Akaris Global") today announced that it has delivered a letter to the Pluralsight, Inc. ("Pluralsight" or the "Company") (NYSE: PS) Board of Directors (the "Board"), expressing its concerns about the recently announced proposed sale of the Company to Vista Equity Partners for $20.26 per share in cash. In its letter, Akaris Global has informed Pluralsight that it intends to vote against the proposed deal in its current form.
As a long-term shareholder of Pluralsight stock, Akaris Global believes that the proposed transaction significantly undervalues the Company. Specifically, the offer price:
In addition, as outlined in the letter, based on current public disclosure, it is not clear to Akaris Global that the Board undertook a full and fair sales process to ensure that shareholders will receive maximum value for their investment. Accordingly, Akaris Global believes the Board must account for the sales process to assure shareholders that it was not rushed or subject to any material conflicts of interest.
The full text of Akaris Global's letter to the Pluralsight Board of Directors can be found here: https://akarisglobal.s3.amazonaws.com/PS+Letter+20201228.pdf
About Akaris Global. Akaris Global, an investment firm located in New York, seeks to compound capital at attractive absolute rates of return by investing in Structural Winners: resilient, growing, and underappreciated businesses with attractive reinvestment opportunities that are led by top-tier operating teams. We invest primarily in technology, consumer, and industrial businesses.
Contact:
Steve Bruce/Taylor Ingraham
ASC Advisors
203-992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com
View original content:http://www.prnewswire.com/news-releases/akaris-global-sends-letter-to-pluralsight-board-of-directors-expressing-concerns-about-acquisition-offer-from-vista-equity-partners-and-intention-to-vote-against-the-proposed-transaction-301198763.html
SOURCE Akaris Global Partners, LP
Copyright 2020 PR Newswire
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