CVT SPECIAL ALERT: Shareholders Interested in Pursuing Claims for Additional Consideration Should Contact Julie & Holleman Regarding Sale of Cvent Holdings to Blackstone

NEW YORK, April 10, 2023 /PRNewswire/ -- Shareholder rights law firm Julie & Holleman LLP is investigating the proposed $8.50 per share ($4.6 billion) acquisition of Cvent Holdings Corp. (Nasdaq: CVT) by affiliates of private equity firm Blackstone Inc.

For a free consultation and to learn more about our investigation, click here.

Cvent is a leading meetings, events, and hospitality technology provider with more than 4,800 employees and over 21,000 customers worldwide as of September 30, 2022. The company was founded in 1999. In 2016, private equity firm Vista Equity Partners acquired the company for $1.3 billion. And in 2021, Vista took Cvent public through a "de-SPAC" transaction that valued the company at $5.3 billion. Since then, Cvent has continued to make strides in executing its business strategy, but recent economic conditions have forced the company's stock price downward.

On March 14, 2023, Cvent announced that Blackstone agreed to acquire the company for $8.50. As part of the deal, members of Cvent's management and Vista may continue to participate in the company's upside either through a share "roll over" or new investment. Cvent management is also expected to stay on with the company. The deal is expected to close mid-2023.

Julie & Holleman is investigating potential legal claims regarding the fairness of the $8.50 per share merger price. Cvent went public at much higher than the deal price, and Blackstone appears to be seizing on short-term trends. Separately, there are issues over potential conflicts, including Vista's and management's role with the post-close company.

If you would like more information about Julie & Holleman's investigation, please contact W. Scott Holleman at [email protected] or (929) 415-1020. You may also visit the firm's website by clicking here.

Julie & Holleman is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. The firm's attorneys litigate in state and federal courts across the nation and have helped secure hundreds of millions of dollars for aggrieved companies and their shareholders. For more information about the firm, please visit https://www.julieholleman.com/. This notice may constitute attorney advertising.

SOURCE Julie & Holleman LLP