SCHEDULE 13G/A: Lynrock Lake LP Discloses 8.4% Stake in Yext, Inc. Common Stock
Beneficial Ownership Report
Investment firm Lynrock Lake LP, along with its affiliates, has filed an amended Schedule 13G disclosing a beneficial ownership of 8.4% in Yext, Inc.'s common stock as of December 31, 2024.
Summary
- Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul (collectively, the "Reporting Persons") have filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in Yext, Inc.
- As of December 31, 2024, the Reporting Persons collectively beneficially own 10,671,078 shares of Yext, Inc. Common Stock.
- This ownership represents 8.4% of Yext, Inc.'s outstanding Common Stock, based on 127,621,329 shares reported outstanding as of November 25, 2024.
- The shares are directly held by Lynrock Lake Master Fund LP, with Lynrock Lake LP serving as the investment manager, holding sole voting and dispositive power over these securities.
- Cynthia Paul, as the Chief Investment Officer of Lynrock Lake LP and Sole Member of Lynrock Lake Partners LLC, is deemed to exercise voting and investment power over the shares.
- The Reporting Persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Yext, Inc.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the issuer's performance or outlook.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- Certain feeder funds that invest in Lynrock Lake Master Fund LP may have the right to receive dividends from, or the proceeds from the sale of, the securities directly held by Lynrock Lake Master Fund LP.
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake provides transparency regarding the ownership structure and may signal institutional confidence or interest in the company.
Key Dates
| Date | Description |
|---|---|
| November 25, 2024 | Date as of which 127,621,329 shares of Yext, Inc. Common Stock were reported outstanding in the Issuer's Form 10-Q. |
| December 31, 2024 | Date of event which requires filing of this statement; date as of which beneficial ownership is reported. |
| February 14, 2025 | Date the Schedule 13G Amendment No. 2 was signed and filed with the SEC. |
Keywords
Yext, Lynrock Lake LP, Lynrock Lake Partners LLC, Cynthia Paul, beneficial ownership, Schedule 13G, common stock, investment management, SEC filing
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