Yext, Inc. (NYSE:YEXT) stock surged 11% after announcing a “modified Dutch auction” tender offer to repurchase up to $180 million of its common stock. The company plans to buy shares at prices ranging from $5.75 to $6.50, representing a premium of 17% to 32% over its previous closing price. This tender offer aims to return capital to stockholders and provide liquidity without significant market disruption.
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Yext stock surges after $180 million tender offer announcement
Yext, Inc. (NYSE:YEXT) stock surged 11% after announcing a “modified Dutch auction” tender offer to repurchase up to $180 million of its common stock. The company plans to buy shares at prices ranging from $5.75 to $6.50, representing a premium of 17% to 32% over its previous closing price. This tender offer aims to return capital to stockholders and provide liquidity without significant market disruption.