Eminence Capital Releases Investor Presentation on Grossly Inadequate Offer Resulting From Highly Manipulated Pluralsight Sales Process

Eminence Capital, LP (“Eminence”), the beneficial owner of approximately 6 million shares of Class A Common Stock of Pluralsight, Inc. ("Pluralsight" or the "Company") (NYSE: PS), representing approximately 4.85% of the Company’s outstanding shares, today released a detailed presentation to Pluralsight shareholders. The presentation highlights what Eminence believes is a grossly inadequate offer from Vista Equity Partners (“Vista”) to acquire Pluralsight resulting from a highly manipulated sales process.
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The presentation is available at: https://www.businesswire.com/news/home/52375595/en.
Ricky Sandler, Chief Executive Officer and Chief Investment Officer, said, “We believe Pluralsight’s rushed, highly manipulated and conflicted sales process resulted in the Company accepting an offer that fails to compensate shareholders for current performance or future value. The Board’s acceptance of a virtually no premium offer deprives shareholders of the value that will be created by the Company as it disrupts the enterprise education system over the coming years. It is deeply troubling and an affront to all current shareholders. We strongly urge shareholders to resoundingly reject the transaction.”
Eminence encourages all Pluralsight shareholders to “VOTE NO” by voting proxies for the Special Meeting scheduled for March 2 “AGAINST” the Vista transaction.
Important Information
Eminence Capital, LP (“Eminence”) and Ricky C. Sandler (collectively, the “Participants”) intend to file with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement and accompanying form of GOLD proxy to be used in connection with the solicitation of proxies from the shareholders of Pluralsight, Inc. (the “Company”). All shareholders of the Company are advised to read the definitive proxy statement and other documents related to the solicitation of proxies by the Participants when they become available, as they will contain important information, including additional information related to the Participants. The definitive proxy statement and an accompanying GOLD proxy card will be furnished to some or all of the Company’s shareholders and will be, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov/.
Information about the Participants and a description of their direct or indirect interests by security holdings are contained in the preliminary proxy statement on Schedule 14A filed by the Participants with the SEC on February 4, 2021. This document will be available free of charge from the source indicated above.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are “forward-looking statements,” which are not guarantees of future performance or results, and the words “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” and similar expressions are generally intended to identify forward-looking statements. The projected results and statements contained in this press release and the material contained herein that are not historical facts are based on current expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different. Certain information included in this material is based on data obtained from sources considered to be reliable. No representation is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this material in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as an accurate prediction of future results. All figures are unaudited estimates and subject to revision without notice. Eminence disclaims any obligation to update the information herein and reserves the right to change any of its opinions expressed herein at any time as it deems appropriate. Past performance is not indicative of future results. Eminence has neither sought nor obtained the consent from any third party to use any statements or information contained herein that have been obtained or derived from statements made or published by such third parties. Except as otherwise expressly stated herein, any such statements or information should not be viewed as indicating the support of such third parties for the views expressed herein.
About Eminence Capital, LP
Eminence is a global asset management firm founded in 1999 that currently manages approximately $7.8 billion. Eminence’s investment approach is anchored in bottom up fundamental research seeking to identify “quality value” investment opportunities that are likely to undergo a positive change in investor perception.
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Jonathan Gasthalter/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
Bruce Goldfarb/Chuck Garske
Okapi Partners LLC
(212) 297-0720
SOURCE: Eminence Capital, LP
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PUB: 02/08/2021 04:05 PM/DISC: 02/08/2021 04:06 PM