GTY Technology Holdings Inc. Announces Shareholder Approval of Merger Agreement

GTY Technology Holdings Inc. (NASDAQ:GTYH) ("GTY" or the "Company"), a leading provider of cloud software solutions for the public sector, today announced that its shareholders have voted to approve the previously announced Agreement and Plan of Merger (the "Merger Agreement"), whereby GTY will be acquired by an affiliate of GI Partners (together with certain affiliated entities, "GI") for $6.30 per share of GTY common stock in cash. The approval of GTY shareholders was a closing condition of the Merger Agreement that has now been satisfied. Approximately 75.5% of GTY's outstanding common stock voted in favor of the Merger Agreement. In addition, the applicable waiting period under the Hart–Scott–Rodino Antitrust Improvements Act of 1976 expired on June 10, 2022.

Subject to the satisfaction of certain other closing conditions, the transaction is expected to close on or around July 7, 2022. Upon completion of the transaction, GTY will operate as a privately-held company and GTY common stock will no longer be listed on any public market.