New Relic announced the completion of the 45-day “go-shop” period pursuant to the terms of the previously announced definitive agreement to be acquired by Francisco Partners, a global investment firm that specializes in partnering with technology businesses, and TPG, a global alternative asset management firm, for $87.00 per share in cash, representing an equity valuation of approximately $6.5 billion (“the Transaction”). The “go-shop” period concluded at 11:59 p.m. Pacific time on September 13, 2023.

During the “go-shop” period, at the discretion of the Company’s Board of Directors, New Relic and representatives of Qatalyst Partners, financial advisor to the Company, actively solicited alternative acquisition proposals from 53 potentially interested strategic and financial parties. None of the 53 parties contacted by New Relic submitted a competing acquisition proposal during the “go-shop” period.

The Transaction is expected to close in late 2023 or early 2024, subject to the satisfaction of customary closing conditions and certain regulatory items, including the approval of New Relic’s shareholders and customary merger control clearances. The waiting period for the Transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired at 11:59 p.m. Eastern time on September 11, 2023. The Transaction is not subject to a financing condition. Upon completion of the Transaction, New Relic common stock will no longer be listed on any public market.