Domo Details $400M Asset Sale to Progress Software, Shareholder Approval Secured
DOMO has more than doubled off its 52-week low of $1.84 on light trading volume (0.2× avg).
Summary
Domo's asset sale to Progress Software for $400 million is fully detailed, with shareholder approval already secured and a poison pill adopted to protect NOLs.
Key Events · M&A and Partnerships · DOMO
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Asset Sale Terms Finalized
Domo will sell substantially all assets to Progress Software for $400 million, subject to a $25 million minimum cash adjustment and assumption of certain liabilities.
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Shareholder Approval Secured
Majority stockholders Cocolalla, LLC and Joshua G. James, holding 75.7% voting power, delivered written consent on July 22, 2026, making the deal irrevocable.
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NOL Preservation Plan
Domo adopted a Tax Benefits Preservation Plan with a 4.9% trigger to protect over $900 million in NOLs, which the company intends to monetize post-closing.
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Expected Net Cash Per Share
After adjustments and expenses, Domo expects to retain approximately $246 million in net cash, equivalent to $4.84 per share based on fully diluted shares.
Analysis · DOMO · Technology
Domo's preliminary information statement reveals the mechanics of its $400 million asset sale to Progress Software. Majority stockholders holding 75.7% voting power have already approved the deal via written consent, eliminating any shareholder vote. The company will retain over $900 million in NOLs and expects to keep approximately $246 million in net cash, equivalent to $4.84 per share. A poison pill with a 4.9% trigger protects those NOLs. The deal is expected to close before November 30, 2026, pending HSR clearance.
At the time of this filing, DOMO was trading at $3.92 on NASDAQ in the Technology sector, with a market capitalization of approximately $184.4M. The 52-week trading range was $1.84 to $18.49. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.