Software Co. Investors Ask Court To Size Up $1.9B Vista Deal

By Vince Sullivan (April 18, 2019, 6:19 PM EDT) -- A group of investors in wellness billing software company Mindbody Inc. filed an appraisal petition Wednesday in Delaware Chancery Court seeking a determination of the fair value of their shares after the company sold to private equity firm Vista Equity Partners for $1.9 billion.

Investors Luxor Capital Partners LP and Blue Mountain Credit Alternatives Master Fund LP, which combined with petitioning affiliates own more than 7 million shares in Mindbody, are asking the court to appraise the value of those shares under Section 262 of the Delaware General Corporation Law.

The Vista Equity deal saw the private equity firm pay $36.50...

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