Yext Rallies on $180M Tender Offer in Aftermath of CEO's Bid Withdrawal

Dow Jones02-11

By Katherine Hamilton

Shares of Yext rose after the company said it commenced a tender offer to purchase up to $180 million worth of shares.

The stock rallied 12%, to $5.52, after sinking 36% over the past three months.

The offer is a modified Dutch auction, which means the company buys back its own shares by allowing shareholders to choose a price within a specified range. Yext offered a range of $5.75 to $6.50 a share.

The tender offer is scheduled to expire March 12 at 5 p.m. ET unless the offer is terminated, the digital presence manager said.

Earlier this month, shares tumbled after Chief Executive Michael Walrath withdrew his offer to buy the New York company for $9 a share. Walrath said he couldn't obtain the necessary financing due to value loss across software companies.

Yext said after Walrath withdrew his offer that it would buy back $150 million of its stock and that it would draw on debt financing to fund the repurchase.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

February 10, 2026 13:51 ET (18:51 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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