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Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced that its shareholders voted to approve the pending transaction with Vista Equity Partners ("Vista") at the Company's Special Meeting of Shareholders (the "Special Meeting") held today.
Approximately 80% of outstanding shares were represented at the meeting with 84% of those shares voting in favor of the proposed merger resulting in 66% of total outstanding shares in favor of the merger. Avalara will file the final vote results, as certified by the independent Inspector of Election, on a Form 8-K with the U.S. Securities and Exchange Commission.
Under the terms of the transaction, Vista will acquire all outstanding shares of Avalara common stock for $93.50 per share in cash. The transaction is expected to close on October 19, 2022, subject to the satisfaction of all closing conditions. Upon completion of the transaction, Avalara's shares will no longer trade on the New York Stock Exchange, and Avalara will become a private company. The Company will continue to operate under the Avalara name and brand.
Posted In: AVLR
