Smartsheet Announces Results of 2024 Special Shareholders’ Meeting
Smartsheet (NYSE:SMAR) shareholders have approved the company's proposed acquisition by Blackstone and Vista Equity Partners. The approval marks a significant milestone in the acquisition process, which was initially announced in September 2024. Shareholders also endorsed the executive compensation plan associated with the acquisition.
The transaction still requires certain regulatory approvals and other customary closing conditions. The acquisition is expected to close in the fourth quarter of Smartsheet's fiscal year ending January 31, 2025, or shortly thereafter. The company will file the final vote results with the SEC via Form 8-K.
I soci di Smartsheet (NYSE:SMAR) hanno approvato la proposta di acquisizione dell'azienda da parte di Blackstone e Vista Equity Partners. L'approvazione segna una tappa significativa nel processo di acquisizione, inizialmente annunciato nel settembre 2024. I soci hanno anche sostenuto il piano di compenso per i dirigenti associato all'acquisizione.
La transazione deve ancora ricevere alcune approvazioni normative e altre condizioni consuete di chiusura. Si prevede che l'acquisizione venga conclusa nel quarto trimestre dell'anno fiscale di Smartsheet che termina il 31 gennaio 2025, o poco dopo. L'azienda presenterà i risultati finali del voto alla SEC tramite il modulo 8-K.
Los accionistas de Smartsheet (NYSE:SMAR) han aprobado la propuesta de adquisición de la empresa por parte de Blackstone y Vista Equity Partners. La aprobación marca un hito significativo en el proceso de adquisición, que se anunció inicialmente en septiembre de 2024. Los accionistas también respaldaron el plan de compensación ejecutiva asociado con la adquisición.
La transacción aún requiere ciertas aprobaciones regulatorias y otras condiciones habituales de cierre. Se espera que la adquisición se cierre en el cuarto trimestre del año fiscal de Smartsheet que finaliza el 31 de enero de 2025, o poco después. La empresa presentará los resultados finales de la votación a la SEC a través del formulario 8-K.
스마트시트(SMART; NYSE:SMAR) 주주들은 블랙스톤과 비스타 엑셀러레이터 파트너스의 회사 인수 제안을 승인했습니다. 이번 승인은 2024년 9월에 처음 발표된 인수 과정에서 중요한 이정표가 됩니다. 주주들은 또한 인수와 관련된 경영진 보상 계획을 지지했습니다.
이번 거래는 여전히 특정 규제 승인이 필요하며 기타 일반적인 마감 조건을 충족해야 합니다. 인수는 스마트시트의 2025년 1월 31일 종료되는 회계 연도의 4분기에 완료될 것으로 예상되며, 그 직후일 수도 있습니다. 회사는 SEC에 최종 투표 결과를 8-K 양식을 통해 제출할 예정입니다.
Les actionnaires de Smartsheet (NYSE:SMAR) ont approuvé la proposition d'acquisition de l'entreprise par Blackstone et Vista Equity Partners. Cette approbation constitue une étape importante dans le processus d'acquisition, qui a été initialement annoncé en septembre 2024. Les actionnaires ont également soutenu le plan de rémunération des dirigeants associé à l'acquisition.
La transaction nécessite encore certaines approbations réglementaires et d'autres conditions de clôture habituelles. L'acquisition devrait être finalisée au quatrième trimestre de l'exercice fiscal de Smartsheet se terminant le 31 janvier 2025, ou peu après. L'entreprise soumettra les résultats finaux du vote à la SEC via le formulaire 8-K.
Die Aktionäre von Smartsheet (NYSE:SMAR) haben den Vorschlag des Unternehmens zur Übernahme durch Blackstone und Vista Equity Partners genehmigt. Die Genehmigung markiert einen bedeutenden Meilenstein im Übernahmeprozess, der ursprünglich im September 2024 angekündigt wurde. Die Aktionäre stimmten auch dem Vergütungsplan für die Führungskräfte zu, der mit der Übernahme verbunden ist.
Die Transaktion erfordert weiterhin bestimmte regulatorische Genehmigungen und andere übliche Abschlussbedingungen. Die Übernahme wird voraussichtlich im vierten Quartal des zum 31. Januar 2025 endenden Geschäftsjahres von Smartsheet abgeschlossen oder kurz danach. Das Unternehmen wird die endgültigen Abstimmungsergebnisse über das Formular 8-K bei der SEC einreichen.
- Shareholders overwhelmingly approved the acquisition proposal
- Strong shareholder support demonstrated through approval of executive compensation plan
- Acquisition proceeding according to planned timeline
- Transaction still subject to regulatory approvals and closing conditions
- Potential uncertainty until final closing
Insights
Smartsheet Shareholders Approve Acquisition by Blackstone and Vista Equity Partners
In addition, shareholders also voted in favor of the executive compensation plan related to the acquisition, further validating their support for the Company's leadership and strategic direction.
Smartsheet will disclose the final vote results on a Current Report on Form 8-K to be filed with the
Following the approval of the Merger Proposal, the acquisition remains subject to other customary closing conditions, including certain regulatory approvals that are proceeding in the normal course. Assuming the satisfaction of necessary closing conditions, the acquisition is expected to close in the fourth quarter of Smartsheet’s fiscal year ending January 31, 2025, or shortly thereafter.
About Smartsheet
Smartsheet is the modern enterprise work management platform trusted by millions of people at companies across the globe, including over
Forward-Looking Statements
This communication may contain forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, among other things, statements regarding the ability of the parties to complete the proposed transaction and the expected timing of completion of the proposed transaction; the prospective performance and outlook of Smartsheet’s business, performance and opportunities; as well as any assumptions underlying any of the foregoing. When used in this communication, or any other documents, words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “forecast,” “goal,” “objective,” “plan,” “project,” “seek,” “strategy,” “target,” and similar expressions should be considered forward-looking statements made in good faith by Smartsheet, as applicable, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the beliefs and assumptions of management at the time that these statements were prepared and are subject to risks, uncertainties, and assumptions that could cause Smartsheet’s actual results to differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all; (ii) the possibility that competing offers or acquisition proposals for Smartsheet will be made; (iii) the possibility that any of the various conditions to the consummation of the proposed transaction may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities; (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circumstances that would require Smartsheet to pay a termination fee or other expenses; (v) the effect of the pendency of the proposed transaction on Smartsheet’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, its business generally or its stock price; (vi) risks related to diverting management’s attention from Smartsheet’s ongoing business operations or the loss of one or more members of the management team; (vii) the risk that shareholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; (viii) Smartsheet’s ability to achieve future growth and sustain its growth rate; (ix) Smartsheet’s ability to attract and retain talent; (x) Smartsheet’s ability to attract and retain customers (including government customers) and increase sales to its customers; (xi) Smartsheet’s ability to develop and release new products and services and to scale its platform; (xii) Smartsheet’s ability to increase adoption of its platform through its self-service model; (xiii) Smartsheet’s ability to maintain and grow its relationships with channel and strategic partners; (xiv) the highly competitive and rapidly evolving market in which it participates; (xv) Smartsheet’s ability to identify targets for, execute on, or realize the benefits of, potential acquisitions; and (xvi) its international expansion strategies. Further information on risks that could affect Smartsheet’s results is included in its filings with the SEC, including its most recent Quarterly Report on Form 10-Q and its Annual Report on Form 10-K for the fiscal year ended January 31, 2024, and any current reports on Form 8-K that it may file from time to time. Should any of these risks or uncertainties materialize, actual results could differ materially from expectations. Except as required by applicable law, Smartsheet assumes no obligation to, and does not currently intend to, update or supplement any such forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date of this communication.
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Investor Relations Contact
Aaron Turner
investorrelations@smartsheet.com
Media Contact
FGS Global
Smartsheet@FGSGlobal.com
Source: Smartsheet
FAQ
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