AYX Transaction Investor / Analyst Courtesy Note
Subject: Alteryx Agreement to be Acquired by Clearlake Capital and Insight Partners
Good morning,
I am pleased to share that Alteryx has entered into a definitive agreement to be acquired by Clearlake Capital and Insight Partners for $48.25 per share. This all-cash transaction values Alteryx at $4.4 billion, including debt. The press release we issued can be found here [HYPERLINK].
Highlights of the transaction include the following:
• | | The per share cash purchase price represents: |
| • | | 59% premium to Alteryx’s unaffected closing stock price on September 5, 2023, the last full trading day prior to media reports regarding a possible sale transaction. |
| • | | Significant, certain value for Alteryx stockholders. |
• | | The transaction is the result of a competitive process with multiple parties intended to maximize shareholder value. |
| • | | It was overseen by a Special Committee of Alteryx’s Board of Directors, which consisted solely of independent directors. |
• | | The transaction is expected to close in the first half of 2024. |
| • | | The transaction was approved and recommended by the Special Committee and then approved by Alteryx’s Board of Directors. |
| • | | The transaction is not subject to a financing condition. |
| • | | It is subject to customary closing conditions and approvals, including approval by Alteryx stockholders and receipt of required regulatory approvals. |
| • | | Dean Stoecker, Alteryx’s largest shareholder, has agreed to vote his shares in favor of the transaction. His ownership is just under what is required for stockholders to approve the transaction. Mr. Stoecker holds approximately 49% of Alteryx’s voting power. The transaction is not subject to a financing condition or a “majority of the minority” stockholder vote. |
We value your investment and support.
Best regards,
NAME
Additional Information and Where to Find It
Alteryx, Inc. (“Alteryx”), its directors and certain executive officers are participants in the solicitation of proxies from stockholders in connection with the pending acquisition of Alteryx (the “Transaction”). Alteryx plans to file a proxy statement (the “Transaction Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies to approve the Transaction.
Mark Anderson, Charles R. Cory, Jeffrey L. Horing, Anjali Joshi, Timothy I. Maudlin, CeCe Morken, Eileen M. Schloss, Dean A. Stoecker and Dan Warmenhoven, all of whom are members of Alteryx’s Board of Directors, and Kevin Rubin, Alteryx’s chief financial officer, are participants in Alteryx’s solicitation. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the Transaction Proxy Statement and other relevant documents to be filed with the SEC in connection with the Transaction. The beneficial ownership of each such person, as of the date specified, appears in the table below. Please see the section captioned “Executive Compensation—Employment Agreements and Severance and Change in Control Benefits” in Alteryx’s definitive proxy statement for its 2023 Annual Meeting of Stockholders, which was filed with the SEC on April 4, 2023, and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1689923/000114036123016229/ny20006541x2_def14a.htm, for certain illustrative information on the payments that may be owed to Alteryx’s named executive officers in a change of control of Alteryx.