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    SEC Form SC 13D/A filed by Zuora Inc. (Amendment)

    9/25/23 4:37:27 PM ET
    $ZUO
    Computer Software: Prepackaged Software
    Technology
    Get the next $ZUO alert in real time by email
    SC 13D/A 1 d537850dsc13da.htm SC 13D/A SC 13D/A

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

     

    SCHEDULE 13D

    Under the Securities Exchange Act of 1934

    (Amendment No. 1)*

     

     

    ZUORA, INC.

    (Name of Issuer)

    Class A Common Stock, par value $0.0001 per share

    (Title of Class of Securities)

    98983V106

    (CUSIP Number)

    Andrew J. Schader, Esq.

    Silver Lake

    55 Hudson Yards

    550 West 34th Street, 40th Floor

    New York, NY 10001

    (212) 981-5600

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

    With copies to:

    Kenneth Wallach, Esq.

    Sunny Cheong, Esq.

    Simpson Thacher & Bartlett LLP

    425 Lexington Avenue

    New York, New York 10017

    (212) 455-2000

    September 22, 2023

    (Date of Event which Requires Filing of this Statement)

     

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

     

     

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

     

     

     

    *

    The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section of the Exchange Act but shall be subject to all other provisions of the Exchange Act (however, see the Notes).

     

     

     


    CUSIP NO. 98983V106

     

     1.    

     Names of Reporting Persons.

     

     SLA Zurich Holdings, L.P.

     2.  

     Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) ☐  (b) ☒

     

     3.  

     SEC Use Only

     

     4.  

     Source of Funds (See Instructions)

     

     OO

     5.  

     Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

     

     ☐

     6.  

     Citizenship or Place of Organization

     

     Delaware

    Number of

    shares

     beneficially  owned by

    each

    reporting

    person

    with:

     

        7.     

     Sole Voting Power

     

     0

        8.   

     Shared Voting Power

     

     20,000,000

        9.   

     Sole Dispositive Power

     

     0

       10.   

     Shared Dispositive Power

     

     20,000,000

    11.    

     Aggregate Amount Beneficially Owned by Each Reporting Person

     

     20,000,000

    12.  

     Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

     

     ☐

    13.  

     Percent of Class Represented by Amount in Row (11)

     

     13.1%

    14.  

     Type of Reporting Person (See Instructions)

     

     PN

     

    2


    CUSIP NO. 98983V106

     

     1.    

     Names of Reporting Persons.

     

     SLA Zurich Aggregator, L.P.

     2.  

     Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) ☐  (b) ☒

     

     3.  

     SEC Use Only

     

     4.  

     Source of Funds (See Instructions)

     

     OO

     5.  

     Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

     

     ☐

     6.  

     Citizenship or Place of Organization

     

     Delaware

    Number of

    shares

     beneficially  owned by

    each

    reporting

    person

    with:

     

        7.     

     Sole Voting Power

     

     0

        8.   

     Shared Voting Power

     

     7,500,000

        9.   

     Sole Dispositive Power

     

     0

       10.   

     Shared Dispositive Power

     

     7,500,000

    11.    

     Aggregate Amount Beneficially Owned by Each Reporting Person

     

     7,500,000

    12.  

     Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

     

     ☐

    13.  

     Percent of Class Represented by Amount in Row (11)

     

     5.4%

    14.  

     Type of Reporting Person (See Instructions)

     

     PN

     

    3


    CUSIP NO. 98983V106

     

     1.    

     Names of Reporting Persons.

     

     SLA Zurich GP, L.L.C.

     2.  

     Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) ☐  (b) ☒

     

     3.  

     SEC Use Only

     

     4.  

     Source of Funds (See Instructions)

     

     OO

     5.  

     Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

     

     ☐

     6.  

     Citizenship or Place of Organization

     

     Delaware

    Number of

    shares

     beneficially  owned by

    each

    reporting

    person

    with:

     

        7.     

     Sole Voting Power

     

     0

        8.   

     Shared Voting Power

     

     20,000,000

        9.   

     Sole Dispositive Power

     

     0

       10.   

     Shared Dispositive Power

     

     20,000,000

    11.    

     Aggregate Amount Beneficially Owned by Each Reporting Person

     

     20,000,000

    12.  

     Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

     

     ☐

    13.  

     Percent of Class Represented by Amount in Row (11)

     

     13.1%

    14.  

     Type of Reporting Person (See Instructions)

     

     OO

     

    4


    CUSIP NO. 98983V106

     

     1.    

     Names of Reporting Persons.

     

     SL Alpine II Aggregator GP, L.L.C.

     2.  

     Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) ☐  (b) ☒

     

     3.  

     SEC Use Only

     

     4.  

     Source of Funds (See Instructions)

     

     OO

     5.  

     Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

     

     ☐

     6.  

     Citizenship or Place of Organization

     

     Delaware

    Number of

    shares

     beneficially  owned by

    each

    reporting

    person

    with:

     

        7.     

     Sole Voting Power

     

     0

        8.   

     Shared Voting Power

     

     27,500,000

        9.   

     Sole Dispositive Power

     

     0

       10.   

     Shared Dispositive Power

     

     27,500,000

    11.    

     Aggregate Amount Beneficially Owned by Each Reporting Person

     

     27,500,000

    12.  

     Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

     

     ☐

    13.  

     Percent of Class Represented by Amount in Row (11)

     

     17.2%

    14.  

     Type of Reporting Person (See Instructions)

     

     OO

     

    5


    CUSIP NO. 98983V106

     

     1.    

     Names of Reporting Persons.

     

     Silver Lake Alpine Associates II, L.P.

     2.  

     Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) ☐  (b) ☒

     

     3.  

     SEC Use Only

     

     4.  

     Source of Funds (See Instructions)

     

     OO

     5.  

     Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

     

     ☐

     6.  

     Citizenship or Place of Organization

     

     Delaware

    Number of

    shares

     beneficially  owned by

    each

    reporting

    person

    with:

     

        7.     

     Sole Voting Power

     

     0

        8.   

     Shared Voting Power

     

     27,500,000

        9.   

     Sole Dispositive Power

     

     0

       10.   

     Shared Dispositive Power

     

     27,500,000

    11.    

     Aggregate Amount Beneficially Owned by Each Reporting Person

     

     27,500,000

    12.  

     Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

     

     ☐

    13.  

     Percent of Class Represented by Amount in Row (11)

     

     17.2%

    14.  

     Type of Reporting Person (See Instructions)

     

     PN

     

    6


    CUSIP NO. 98983V106

     

     1.    

     Names of Reporting Persons.

     

     SLAA II (GP), L.L.C.

     2.  

     Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) ☐  (b) ☒

     

     3.  

     SEC Use Only

     

     4.  

     Source of Funds (See Instructions)

     

     OO

     5.  

     Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

     

     ☐

     6.  

     Citizenship or Place of Organization

     

     Delaware

    Number of

    shares

     beneficially  owned by

    each

    reporting

    person

    with:

     

        7.     

     Sole Voting Power

     

     0

        8.   

     Shared Voting Power

     

     27,500,000

        9.   

     Sole Dispositive Power

     

     0

       10.   

     Shared Dispositive Power

     

     27,500,000

    11.    

     Aggregate Amount Beneficially Owned by Each Reporting Person

     

     27,500,000

    12.  

     Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

     

     ☐

    13.  

     Percent of Class Represented by Amount in Row (11)

     

     17.2%

    14.  

     Type of Reporting Person (See Instructions)

     

     OO

     

    7


    CUSIP NO. 98983V106

     

     1.    

     Names of Reporting Persons.

     

     Silver Lake Group, L.L.C.

     2.  

     Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) ☐  (b) ☒

     

     3.  

     SEC Use Only

     

     4.  

     Source of Funds (See Instructions)

     

     OO

     5.  

     Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

     

     ☐

     6.  

     Citizenship or Place of Organization

     

     Delaware

    Number of

    shares

     beneficially  owned by

    each

    reporting

    person

    with:

     

        7.     

     Sole Voting Power

     

     0

        8.   

     Shared Voting Power

     

     27,500,000

        9.   

     Sole Dispositive Power

     

     0

       10.   

     Shared Dispositive Power

     

     27,500,000

    11.    

     Aggregate Amount Beneficially Owned by Each Reporting Person

     

     27,500,000

    12.  

     Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

     

     ☐

    13.  

     Percent of Class Represented by Amount in Row (11)

     

     17.2%

    14.  

     Type of Reporting Person (See Instructions)

     

     OO

     

    8


    Explanatory Note

    This Amendment No. 1 to Schedule 13D (“Amendment No. 1”) is being filed by SLA Zurich Holdings, L.P. (“SLA Zurich Holdings”), SLA Zurich Aggregator, L.P. (“SLA Zurich Aggregator”), SLA Zurich GP, L.L.C. (“SLA Zurich GP”), SL Alpine II Aggregator GP, L.L.C. (“SLA Aggregator”), Silver Lake Alpine Associates II, L.P. (“SLAA”), SLAA II (GP), L.L.C. (“SLAA GP”) and Silver Lake Group, L.L.C. (“SLG” and, together with SLA Zurich Holdings, SLA Zurich Aggregator, SLA Zurich GP, SLA Aggregator, SLAA and SLAA GP “Silver Lake”) and amends and supplements the statement on Schedule 13D originally filed with the Securities and Exchange Commission on March 28, 2022 (as amended, the “Schedule 13D”), related to the shares of Class A Common Stock, par value $0.0001 per share (the “Class A Common Stock”), of Zuora, Inc., a Delaware corporation (the “Issuer”). The Items below amend the information disclosed under the corresponding Items of the Schedule 13D as described below. Except as specifically provided herein, this Amendment No. 1 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used herein without definition shall have the meaning set forth in the Schedule 13D.

     

    Item 3.

    Source and Amount of Funds or Other Consideration

    Item 3 of the Schedule 13D is hereby amended and supplemented as follows:

    The information set forth in or incorporated by reference in Item 6 of this Schedule 13D is incorporated by reference in its entirety into this Item 3.

    As previously disclosed, on March 2, 2022, the Issuer entered into an Investment Agreement (as amended, the “Investment Agreement”) with an affiliate of SLAA. Pursuant to the Investment Agreement, on March 24, 2022 (the “Closing Date”), SLA Zurich Holdings purchased from the Issuer convertible senior PIK toggle notes due 2029 (each a “Note”, collectively the “Notes”), in an aggregate principal amount of $250,000,000, for an aggregate purchase price of $242,000,000 and agreed to purchase an additional $150,000,000 of Notes in a subsequent closing on or before 18 months of the Closing Date in accordance with the terms of the Investment Agreement. On September 22, 2023, pursuant to the terms of the Investment Agreement, SLA Zurich Holdings purchased the additional $150,000,000 of Notes (the “Additional Notes”) for an aggregate purchase price of $150,000,000.

    The funds required for the purchase of the Additional Notes were provided through, as more fully described in Item 6 below, proceeds from a margin loan facility pursuant to the Loan Agreement (as defined below).

     

    Item 5.

    Interest in Securities of the Issuer

    Item 5 (a) – (c) of the Schedule 13D is hereby amended and restated as follows:

    The information contained in rows 7, 8, 9, 10, 11 and 13 on each of the cover pages of this Schedule 13D and the information set forth or incorporated in Items 2, 3 and 6 of this Schedule 13D is incorporated by reference in its entirety into this Item 5.

    (a) – (b) By virtue of the relationships among the Reporting Persons described herein, the Reporting Persons may be deemed to constitute a group within the meaning of Section 13(d)(5) of the rules and regulations promulgated by the Securities and Exchange Commission (the “Commission”) pursuant to the Securities Exchange Act of 1934 (the “Exchange Act”). As such, pursuant to Rule 13d-3 under the Exchange Act, the Reporting Persons may be deemed to beneficially own an aggregate of 27,500,000 shares of Class A Common Stock of the Issuer, which includes 20,000,000 shares of Class A Common Stock which would be received upon conversion of Notes held by SLA Zurich Holdings and 7,500,000 shares of Class A Common Stock which would be received upon exercise of the Warrants held by SLA Zurich Aggregator, representing in the aggregate approximately 17.2% of the issued and outstanding shares of Class A Common Stock of the Issuer, as calculated pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended.

     

    9


    The percentages of beneficial ownership in this Schedule 13D assume (i) the conversion by the Reporting Persons of $400,000,000 in aggregate principal amount of Notes into 20,000,000 shares of Class A Common Stock based on the current Conversion Rate (as defined in Item 6 of the Schedule 13D) and (ii) the exercise of Warrants into 7,500,000 shares of Class A Common Stock, and are based on approximately 132,448,000 shares of Class A Common Stock outstanding as of July 31, 2023, as provided by the Issuer in its Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on September 6, 2023. As further described in Item 6 of the Schedule 13D, pursuant to the Indenture (defined in Item 6 of the Schedule 13D), the Issuer may elect to pay interest on the Notes in kind at a rate of 5.50% per annum, payable quarterly, and as a result, the number of shares of Class A Common Stock into which the Notes may be converted may increase over time.

    Information with respect to the beneficial ownership of Class A Common Stock by the individuals listed in Annex A is set forth in Annex A attached hereto and incorporated herein by reference in response to this Item 5.

    (c) Except as set forth in Item 3 to this Schedule 13D, none of the Reporting Persons have effected any transaction in the Issuer’s Class A Common Stock during the past 60 days.

     

    Item 6.

    Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

    Item 6 of the Schedule 13D is hereby amended and supplemented as follows:

    The Additional Notes were issued pursuant to a supplemental indenture, dated as of September 22, 2023, between the Issuer and U.S. Bank Trust Company, National Association (the “First Supplemental Indenture”). The Additional Notes will have the same terms as the initial Notes issued on March 24, 2022 except with respect to the date as of which interest begins to accrue and the first interest payment date and will be governed by the Indenture.

    The foregoing description of the First Supplemental Indenture is qualified in its entirety by reference to the First Supplemental Indenture which is filed as Exhibit E to this Schedule 13D and incorporated by reference herein.

    In connection with the purchase of the Additional Notes, SLA Zurich Holdings and the other parties thereto entered into Amendment No. 1 to Investment Agreement, which is filed as Exhibit F to this Schedule 13D and incorporated by reference herein.

    Margin Loan Facility

    SLA Zurich Holdings and certain of its affiliates have entered into a Margin Loan and Security Agreement dated as of March 21, 2022 (as amended from time to time, the “Loan Agreement”) with the lenders party thereto (each, a “Lender” and collectively, the “Lenders”) and JPMorgan Chase, N.A., as administrative agent (the “Administrative Agent”).

    As of September 22, 2023, SLA Zurich Holdings has borrowed an aggregate of $150,000,000 under the Loan Agreement. Pursuant to the Loan Agreement, the obligations of SLA Zurich Holdings and other affiliated borrowers thereunder are secured by, among other assets held by such affiliated borrowers, a pledge of Notes owned by SLA Zurich Holdings. As of September 22, 2023, SLA Zurich Holdings has pledged an aggregate principal amount of $400,000,000 of Notes (the “Pledged Notes”).

    The loans under the Loan Agreement mature on or about March 21, 2025, subject to any mutually agreed extension. Upon the occurrence of certain events that are customary for these type of loans, the Lenders may exercise their rights to require SLA Zurich Holdings and the other affiliated borrowers to pre-pay the loan proceeds or post additional collateral, and the Lenders may exercise their rights to foreclose on, and dispose of, the Pledged Notes and other collateral, in each case, in accordance with the Loan Agreement and related documentation.

    The foregoing descriptions of the Loan Agreement is qualified in its entirety by reference to the Loan Agreement which is filed as Exhibit G to this Schedule 13D and incorporated by reference herein.

    Non-Employee Director Compensation

    Directors affiliated with Silver Lake are entitled to earn director compensation pursuant to the Issuer’s standard director compensation arrangements, which compensation is held for the benefit of Silver Lake and/or certain of their affiliates or certain of the funds they manage. On March 24, 2022, Mr. Joseph Osnoss, a Managing Partner at SLG, was appointed as a member of the Board of the Issuer and was awarded 26,024 restricted stock units, which will vest annually in three equal installments on the anniversary of the grant date, provided that Mr. Osnoss continues as a director through each such date. On June 27, 2023, Mr. Osnoss was awarded 16,218 restricted stock units, which will vest on the earlier of (a) the date of the Issuer’s 2024 annual meeting of stockholders and (b) the date that is one year following the grant date, provided that Mr. Osnoss continues as a director through such date.

     

    10


    The beneficial ownership numbers reported herein do not include any shares of Class A Common Stock and restricted stock units awarded to Mr. Osnoss as director compensation and the Reporting Persons disclaim beneficial ownership over such securities.

     

    Item 7.

    Material to Be Filed as Exhibits

    Item 7 of the Schedule 13D is hereby amended and supplemented as follows

     

    E.    Supplemental Indenture, dated as of September 22, 2023, between Zuora, Inc. and U.S. Bank Trust Company, National Association
    F    Amendment No. 1 to Investment Agreement, dated as of September 22, 2023, among Zuora, Inc., Silver Lake Alpine II, L.P., SLA Zurich Aggregator, L.P. and SLA Zurich Holdings, L.P.
    G.    Loan Agreement, dated March 21, 2022, between SLA Zurich Holdings, L.P. and the other parties thereto

     

    11


    Signatures

    After reasonable inquiry and to the best of its knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

    Dated: September 25, 2023

     

    SLA Zurich Holdings, L.P.
    By:   SLA Zurich GP, L.L.C., its general partner
    By:  

    /s/ Andrew J. Schader

      Name: Andrew J. Schader
      Title: Managing Director

     

    SLA Zurich Aggregator, L.P.
    By:   SL Alpine II Aggregator GP, L.L.C., its general partner
    By:   Silver Lake Alpine Associates II, L.P., its managing member
    By:   SLAA II (GP), L.L.C., its general partner
    By:   Silver Lake Group, L.L.C., its managing member
    By:  

    /s/ Andrew J. Schader

      Name: Andrew J. Schader
      Title: Managing Director and General Counsel

     

    SLA Zurich GP, L.L.C.
    By:  

    /s/ Andrew J. Schader

      Name: Andrew J. Schader
      Title: Managing Director

     

    SL Alpine II Aggregator GP, L.L.C.
    By:   Silver Lake Alpine Associates II, L.P., its managing member
    By:   SLAA II (GP), L.L.C., its general partner
    By:   Silver Lake Group, L.L.C., its managing member
    By:  

    /s/ Andrew J. Schader

      Name: Andrew J. Schader
      Title: Managing Director and General Counsel

     

    Silver Lake Alpine Associates II, L.P.
    By:   SLAA II (GP), L.L.C., its general partner
    By:   Silver Lake Group, L.L.C., its managing member
    By:  

    /s/ Andrew J. Schader

      Name: Andrew J. Schader
      Title: Managing Director and General Counsel


    SLAA II (GP), L.L.C.
    By:   Silver Lake Group, L.L.C., its managing member
    By:  

    /s/ Andrew J. Schader

      Name: Andrew J. Schader
      Title: Managing Director and General Counsel

     

    Silver Lake Group, L.L.C.
    By:  

    /s/ Andrew J. Schader

      Name: Andrew J. Schader
      Title: Managing Director and General Counsel


    Annex A

    The following sets forth the name and principal occupation of each of the managing members of Silver Lake Group, L.L.C., each of whom is a citizen of the United States.

     

    Name   

    Business Address

      

    Principal Occupation

    Egon Durban   

    c/o Silver Lake

    2775 Sand Hill Road, Suite 100

    Menlo Park, California 94025

       Co-CEO and Managing Member of Silver Lake Group, L.L.C.
    Kenneth Hao   

    c/o Silver Lake

    2775 Sand Hill Road, Suite 100

    Menlo Park, California 94025

       Chairman and Managing Member of Silver Lake Group, L.L.C.
    Gregory Mondre   

    c/o Silver Lake

    55 Hudson Yards

    550 West 34th Street, 40th Floor

    New York, NY 10001

       Co-CEO and Managing Member of Silver Lake Group, L.L.C.
    Joseph Osnoss   

    c/o Silver Lake

    55 Hudson Yards

    550 West 34th Street, 40th Floor

    New York, NY 10001

       Managing Partner and Managing Member of Silver Lake Group, L.L.C.

    None of the persons listed above beneficially owns any Class A Common Stock of the Issuer or has engaged in any transactions in Class A Common Stock in the previous 60 days, except that Mr. Osnoss beneficially owns 8,675 shares of Common Stock received upon vesting of an equal number of restricted stock units, as further described in Item 6 of the Schedule 13D.

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    Recent Analyst Ratings for
    $ZUO

    DatePrice TargetRatingAnalyst
    7/8/2024$10.00Buy → Hold
    Craig Hallum
    1/23/2024$10.00 → $12.00Neutral → Buy
    Goldman
    7/13/2023$12.00Neutral
    Robert W. Baird
    1/31/2023$11.00Buy
    Lake Street
    10/21/2022$9.00Neutral
    Goldman
    10/11/2021$24.00Hold → Buy
    Needham
    10/1/2021$18.00Underweight → Equal-Weight
    Morgan Stanley
    9/30/2021$24.00Buy
    Craig Hallum
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    • SEC Form 4 filed by Director Slaa Ii (Gp), L.L.C.

      4 - ZUORA INC (0001423774) (Issuer)

      2/19/25 4:30:10 PM ET
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    • Director Clayton Laura A. returned $755,350 worth of shares to the company (75,535 units at $10.00), closing all direct ownership in the company (SEC Form 4)

      4 - ZUORA INC (0001423774) (Issuer)

      2/14/25 4:06:00 PM ET
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    • CLO and Corp. Secretary Cohen Andrew M. returned $1,935,270 worth of shares to the company (193,527 units at $10.00), closing all direct ownership in the company (SEC Form 4)

      4 - ZUORA INC (0001423774) (Issuer)

      2/14/25 4:05:58 PM ET
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    • Silver Lake and GIC Complete Acquisition of Zuora

      Zuora, Inc., a leading monetization platform for modern business, today announced the completion of its acquisition by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. ("GIC"), for $10.00 per share in cash. With the completion of the acquisition, Zuora's Class A common stock will cease trading and the Company will no longer be listed on the New York Stock Exchange. "Zuora's vision sparked the shift to the Subscription Economy that led to today's new world of recurring, usage-based and hybrid revenue models," said Tien Tzuo, Zuora's Founder, CEO and Chairman of the Board. "Completing this transaction with Silver Lake and GIC is an im

      2/14/25 9:00:00 AM ET
      $ZUO
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    • Zuora Recognized as a Leader in Recurring Billing Solutions

      Zuora received the highest score in Revenue Recognition criterion in latest independent research report Zuora, Inc. (NYSE:ZUO), a leading monetization platform for modern business, today announced it has been named a Leader in The Forrester Wave™: Recurring Billing Solutions, Q1 2025 report. Zuora also received the highest score in the Revenue Recognition criterion. The report shared, "Zuora's product vision and strategy are aggressive: It aims to have integrated solutions not only to promote, personalize, and manage the subscriber experience but also to manage the underlying billing and financial close processes for any business that uses recurring revenue models." "We believe Zuora'

      2/4/25 9:00:00 AM ET
      $ZUO
      Computer Software: Prepackaged Software
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    • Zuora Named Workday Services Partner

      Zuora Connector for Workday Financial Management integrates its monetization suite with Workday's comprehensive suite of financial management solutions Zuora, Inc. (NYSE:ZUO), a leading monetization suite for modern business, today announced it has signed a partnership agreement with Workday, Inc. (NASDAQ:WDAY), a leading provider of solutions to help organizations manage their people and money. Fewer than one-third of enterprises have fully automated order-to-cash, and 54% of CFOs agree that legacy ERP systems are not flexible enough to meet the demands of today's business environment. By utilizing the certified Zuora Connector for Workday Financial Management, businesses can significa

      1/14/25 9:00:00 AM ET
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    • Zuora downgraded by Craig Hallum with a new price target

      Craig Hallum downgraded Zuora from Buy to Hold and set a new price target of $10.00

      7/8/24 8:18:06 AM ET
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    • Zuora upgraded by Goldman with a new price target

      Goldman upgraded Zuora from Neutral to Buy and set a new price target of $12.00 from $10.00 previously

      1/23/24 8:15:34 AM ET
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    • Robert W. Baird initiated coverage on Zuora with a new price target

      Robert W. Baird initiated coverage of Zuora with a rating of Neutral and set a new price target of $12.00

      7/13/23 7:37:46 AM ET
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    • SEC Form 15-12G filed by Zuora Inc.

      15-12G - ZUORA INC (0001423774) (Filer)

      2/25/25 6:01:53 AM ET
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    • Amendment: SEC Form SC 13E3/A filed by Zuora Inc.

      SC 13E3/A - ZUORA INC (0001423774) (Subject)

      2/19/25 4:01:54 PM ET
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    • SEC Form S-8 POS filed by Zuora Inc.

      S-8 POS - ZUORA INC (0001423774) (Filer)

      2/14/25 10:58:30 AM ET
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    • SEC Form SC 13D filed by Zuora Inc.

      SC 13D - ZUORA INC (0001423774) (Subject)

      10/23/24 8:17:13 PM ET
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    • Amendment: SEC Form SC 13D/A filed by Zuora Inc.

      SC 13D/A - ZUORA INC (0001423774) (Subject)

      10/17/24 9:47:27 PM ET
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    • SEC Form SC 13G/A filed by Zuora Inc. (Amendment)

      SC 13G/A - ZUORA INC (0001423774) (Subject)

      6/10/24 3:02:07 PM ET
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    • Zuora Reports Third Quarter Fiscal 2025 Results

      Zuora, Inc. (NYSE:ZUO), a leading monetization suite for modern business, today announced financial results for its fiscal third quarter ended October 31, 2024. Third Quarter Fiscal 2025 Financial Results: Revenue: Subscription revenue was $105.3 million, an increase of 7% year-over-year. Total revenue was $116.9 million, an increase of 6% year-over-year. GAAP Loss from Operations: GAAP loss from operations was $11.7 million, compared to a loss from operations of $8.8 million in the third quarter of fiscal 2024. Non-GAAP Income from Operations: Non-GAAP income from operations was $25.1 million, compared to non-GAAP income from operations of $16.0 million in the third quarter of f

      12/9/24 4:10:00 PM ET
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    • Zuora Reports Second Quarter Fiscal 2025 Results

      Subscription revenue grew 9% year-over-year GAAP operating margin increased 8 percentage points year-over-year Non-GAAP operating margin increased 13 percentage points year-over-year Operating cash flow increased to $11.4 million compared to $5.4 million last year Adjusted free cash flow increased to $12.2 million compared to $4.0 million last year Zuora, Inc. (NYSE:ZUO), a leading monetization suite for modern business, today announced financial results for its fiscal second quarter ended July 31, 2024. "I'm proud of our ZEOs for delivering a solid second quarter," said Tien Tzuo, Founder and CEO at Zuora. "From our install base to the analyst community, we continue to be recognized fo

      8/21/24 4:08:00 PM ET
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    • Zuora Announces Date for Its Second Quarter Fiscal 2025 Earnings Conference Call

      Zuora, Inc. (NYSE:ZUO), a leading monetization suite for modern business, today announced that it will report financial results for its second quarter fiscal 2025 ended on July 31, 2024 following the close of market on August 21, 2024. On that day, Zuora's management team will hold a conference call and webcast at 2:00 p.m. PT / 5:00 p.m. ET to discuss Zuora's financial results and business highlights. Event: Zuora Second Quarter Fiscal 2025 Earnings Conference Call When: Wednesday, August 21, 2024 Time: 2:00 p.m. PT / 5:00 p.m. ET Participant Toll-Free Dial-In Number: 1 (888) 596-4144 Participant Toll Dial-In Number: 1 (646) 968-2525 Conference ID: 8022374 Replay: 1 (800) 770-2030 or 1 (

      8/15/24 8:00:00 AM ET
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    • Zuora Appoints John D. Harkey, Jr. to Board of Directors

      Zuora, Inc. (NYSE:ZUO), a leading monetization suite for modern business, today announced the appointment of John D. Harkey, Jr. to the Zuora Board of Directors, effective April 30, 2024. With the addition of Mr. Harkey, the Zuora Board of Directors will consist of ten Board members, nine of whom are independent. The appointment is in connection with a cooperation agreement (the "Agreement") Zuora has entered into with Scalar Gauge Fund, LP and certain of its affiliates (collectively, "Scalar Gauge"). Scalar Gauge is an investment firm that owns approximately 3.7% of Zuora's outstanding class A common shares. Jason Pressman, Lead Independent Director at Zuora, said, "John brings over 25 y

      5/1/24 4:15:00 PM ET
      $ZUO
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    • Zuora Appoints Software Engineering Leader Pete Hirsch as Chief Product and Technology Officer

      Zuora, Inc. (NYSE:ZUO), a leading monetization platform provider for recurring revenue businesses, today announced the appointment of Pete Hirsch as its Chief Product and Technology Officer. Hirsch will join Zuora on July 10, 2023 and report to founder and CEO Tien Tzuo to lead the company's global product innovation and engineering functions. Hirsch comes to Zuora with more than 30 years of software engineering experience leading enterprise product and engineering organizations. Most recently, he was Chief Technology Officer at BlackLine, a financial controls and automation software company, where he led the company's product and technology groups, set its technology direction and scaled

      6/13/23 4:10:00 PM ET
      $ZUO
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    • Zuora Appoints Andrew Cohen as Chief Legal Officer to Help Guide Ongoing Growth of the Subscription Economy

      Zuora, Inc. (NYSE:ZUO), the leading cloud-based subscription management platform provider, today announced the appointment of Andrew Cohen as its Chief Legal Officer. Cohen will report to Zuora® Founder and CEO Tien Tzuo to lead the company's worldwide legal, regulatory, and compliance functions. Joining Zuora on Feb. 14, 2022, Cohen will succeed Zuora's former General Counsel, Jennifer Pileggi, following her retirement. Cohen joins Zuora with more than 20 years of global legal experience at private, public, and Fortune 500 companies. He was a member of Pivotal's executive team at the company's formation (after spinning out from EMC Corporation and VMware), where he served as SVP, General

      1/18/22 4:10:00 PM ET
      $ZUO
      Computer Software: Prepackaged Software
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