SailPoint Reports Expiration Of Its Go-Shop Period, Did Not Receive Any Third-Part Offers; Transaction With Thoma Bravo For $65.25/Share In Cash Expected To Close In H2'22

SailPoint Technologies Holdings, Inc. (NYSE:SAIL) (“SailPoint”), the leader in enterprise identity security, today announced the expiration of the 35-day “go-shop” period under the terms of the previously announced definitive agreement, pursuant to which Thoma Bravo, L.P. (“Thoma Bravo”), a leading software investment firm, will acquire SailPoint in an all-cash transaction for $65.25 per share. The “go-shop” period expired at 11:59 p.m. (Eastern Time) on May 16, 2022.

During the go-shop period, SailPoint’s Board of Directors, with the assistance of Morgan Stanley & Co. LLC, actively solicited alternative acquisition proposals from potentially interested third parties; however, during the “go-shop” period, SailPoint did not receive any alternative acquisition proposals from any third party.

Following the expiration of the go-shop period, SailPoint became subject to customary no-shop restrictions that limit its and its representatives’ ability to solicit alternative acquisition proposals from third parties, subject to customary “fiduciary out” provisions.

The transaction is expected to close in the second half of 2022, subject to customary closing conditions including approval by SailPoint stockholders and receipt of regulatory approvals. Upon closing of the transaction, SailPoint’s common stock will no longer be listed on any public market. The Company will continue to be headquartered in Austin, Texas.