ESMT SPECIAL ALERT: EngageSmart Shareholders Seeking More Money Should Contact Julie & Holleman Regarding Sale to Vista

NEW YORK, Oct. 26, 2023 /PRNewswire/ -- Julie & Holleman LLP, a nationally recognized shareholder rights firm, is investigating the proposed $4 billion buyout of EngageSmart, Inc. (NYSE: ESMT) by private equity fund Vista Equity Partners. Julie & Holleman has already uncovered potential conflicts of interest and believes the deal price may be unfair.

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On October 23, 2023, EngageSmart announced that it had entered into an agreement to be acquired by Vista for $23 per share in cash. However, while public shareholders stand to be cashed out, the company's controlling shareholder, investment firm General Atlantic, will retain its interest in the company and participate in its substantial upside. According to the press release announcing the deal, General Atlantic will own approximately 35% of the post-close entity.

In addition to these conflicts of interest, Julie & Holleman is concerned about the unfairness of the $23 per share sale price. Among other things, this is less than the $26 per share initial public offering price from just two years ago. In addition, the average price target established by Wall Street analysts is $24.50, with a high price target of $30 per share. In short, the firm has reason to believe that EngageSmart may be worth much more than the proposed deal price.

If you would like more information about Julie & Holleman's investigation, or about the acquisition in general, please contact W. Scott Holleman by email at [email protected] or by telephone at (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 www.julieholleman.com. This notice may constitute attorney advertising.

CONTACT INFORMATION

Julie & Holleman LLP
W. Scott Holleman, Esq.
157 East 86th Street
4th Floor
New York, NY 10028
(929) 415-1020
www.julieholleman.com

SOURCE Julie & Holleman LLP