Yext stock jumps as CEO submits proposal to buy rest of the co. for $9/share

Yext (NYSE:YEXT [https://seekingalpha.com/symbol/YEXT]) chairman and CEO Michael Walrath has offered to buy all remaining Yext shares he doesn’t own for $9 each in cash.

The proposal is non-binding and subject to customary conditions, including negotiation of definitive agreements and the completion of satisfactory due diligence.

The board has set up a special committee of independent directors to review the proposal and explore other options.

YEXT shares jumped nearly 12% premarket after the announcement.

Separately, the brand visibility platform said it expects its results for fiscal second quarter to be within or better than its previously stated guidance ranges. The company is due to release the report in early September.

In light of the pending proposal announced today, Yext will not hold a corresponding conference call and is withdrawing its guidance for the remainder of the full fiscal year 2026.

Source: Press Release [https://seekingalpha.com/pr/20203439-yext-ceo-submits-non-binding-acquisition-proposal-expresses-openness-to-alternative-bidders]

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