Pluralsight Independent Transaction Committee and Board of Directors Reiterate Support for Transaction with Vista Equity Partners

All-Cash Transaction Delivers Significant, Immediate and Certain Value to Shareholders

Independent Transaction Committee and Pluralsight Board of Directors Comment on Process and Strategic Benefits of the Transaction

Urge Shareholders to Vote “FOR” the Proposed Transaction

SILICON SLOPES, Utah, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Pluralsight, Inc. (NASDAQ: PS), the technology workforce development company, today issued the following shareholder letter from Pluralsight's Board of Directors recommending shareholders vote “FOR” the pending acquisition of Pluralsight by affiliates of Vista Equity Partners (“Vista”), announced on December 13, 2020:

Dear Pluralsight Shareholders:

Pluralsight recently announced a value-maximizing transaction for its shareholders under which it will be acquired by affiliates of Vista, a leading global investment firm, for $20.26 per share in cash. Pluralsight’s independent Transaction Committee and the full Pluralsight Board are each confident that this transaction, which follows a thoughtful and thorough examination of Pluralsight’s future prospects and challenges and is the result of a robust market-check process, is in the best interests of all Pluralsight shareholders. Your vote is very important. Please vote the WHITE proxy card “FOR” the merger proposal and all other proposals included in the definitive proxy statement for the March 2, 2020 Special Meeting of Pluralsight Shareholders.

THE TRANSACTION PROVIDES SIGNIFICANT, IMMEDIATE AND CERTAIN VALUE TO PLURALSIGHT SHAREHOLDERS

The Transaction Committee and the Pluralsight Board each believes that the transaction with Vista is in the best interests of all Pluralsight shareholders. The transaction delivers certainty in the form of an all-cash offer with committed financing at compelling premia and multiples, including:

• Approximately 25% premium to the 30-day volume-weighted average price of the Class A common stock prior to announcement of the transaction;
• Approximately 26% premium to the undisturbed closing price of the Class A common stock on November 9, 2020 (the last trading day before market rumors that Pluralsight was in discussions regarding a potential sale);
• 9.2x and 8.1x the last 12 months’ and next 12 months’ revenue, respectively, which compare favorably to precedent M&A transactions; and
• 0.54x the Rule of 40 Adjusted next 12 months’ revenue multiple, which compares favorably to precedent M&A transactions.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/105e8c29-9593-44a8 ...