Domo Mails Definitive Proxy for $400M Progress Software Asset Sale — Stockholders to Retain ~$4.84/Share in Cash
DOMO has more than doubled off its 52-week low of $1.84 on light trading volume (0.2× avg).
Summary
Domo mailed its definitive information statement for the $400M sale of its core business to Progress Software. Stockholders keep a public shell with ~$246M cash (~$4.84/share) and $900M+ in NOLs, with closing expected before November 30, 2026.
Key Events · M&A and Partnerships · DOMO
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$400M Asset Sale to Progress Software
Domo will sell substantially all assets and employees to Progress Software for a $400 million base purchase price, subject to a $25 million minimum cash adjustment and indebtedness reduction.
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Stockholders Retain ~$4.84/Share in Cash
After adjustments and expenses, Domo expects to retain approximately $246 million in net cash, equivalent to approximately $4.84 per share — an 81% premium to the 30-day VWAP as of July 21, 2026.
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Majority Stockholders Approved by Written Consent
Cocolalla, LLC and Joshua G. James, holding 75.7% of voting power, delivered irrevocable written consent on July 22, 2026. No further stockholder vote is required.
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NOL Preservation Strategy
Domo retains over $900 million in NOLs and adopted a Tax Benefits Preservation Plan with a 4.9% ownership trigger to protect these tax attributes for potential future acquisitions.
Analysis · DOMO · Technology
The definitive information statement confirms the $400 million sale of Domo's core business to Progress Software. Stockholders will retain a publicly traded shell holding approximately $246 million in net cash—roughly $4.84 per share—plus over $900 million in NOLs. Majority stockholders holding 75.7% of voting power approved the deal by written consent on July 22, 2026, eliminating any shareholder vote. Facing a going-concern warning and debt covenant default in June 2026, the asset sale is the primary path to avoid Chapter 11. The HSR waiting period expires September 4, 2026, with closing expected before November 30, 2026.
How filings like this one have moved
In the 30 days to Aug 24, 2026, 37.5% of the 3362 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, DOMO was trading at $3.75 on NASDAQ in the Technology sector, with a market capitalization of approximately $178.7M. 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.