Eminence Capital Urges Pluralsight (PS) Holders to Reject Latest Vista Offer

Eminence Capital, LP, the beneficial owner of approximately 6 million shares of Class A Common Stock of Pluralsight, Inc. (NYSE: PS), representing approximately 4.84% of the Company’s outstanding shares, today stated that it does not intend to tender its shares into the tender offer announced in connection with Pluralsight’s revised agreement to merge with Vista Equity Partners (“Vista”) for $22.50 per share announced March 8, 2021.

Ricky Sandler, Eminence’s Chief Executive Officer and Chief Investment Officer, said:

“Vista’s modestly improved offer for Pluralsight from an artificially low starting price resulting from a sham process does not come close to compensating shareholders for giving up the value of the Company’s strong near term and long term business prospects as a standalone public company.

“ISS and Glass Lewis independently reached the same conclusion that Pluralsight conducted a deeply flawed sales process. Prior to the adjournment of the Company’s March 2nd special meeting, more than 80% of unaffiliated shareholders who voted rejected Vista’s original grossly inadequate offer price. It is shameful that Pluralsight’s Board, which has been unable to garner support for Vista’s inadequate offer, is now making an end run around all scrutiny by converting to a tender offer in a desperate attempt to coerce shareholders into accepting an inferior price.

“We strongly urge all Pluralsight shareholders not to tender their shares and to join us in unequivocally rejecting this transaction.”

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