CAS Investment Partners entered into an agreement with Cardlytics (CDLX)
Key Summary: On June 23, 2023, CAS Investment Partners (16.6%) expressed support for CEO Karim Temsamani, citing his expertise in building growth-oriented tech businesses, and planned to engage with the board to enhance stockholder value. On September 19, 2023, CAS entered a Cooperation Agreement with the company, increasing the board to nine members and appointing Alex Mishurov as a Class I director for the 2025 AGM.
Market Cap: $595 million | Cardlytics, Inc. operates an advertising platform in the United States and the United Kingdom.
- On June 23, 2023, CAS Investment Partners (16.6%) stated that it admires and is supportive of CEO Karim Temsamani and believes his business expertise and history of building growth-oriented technology businesses will enable him to execute on much needed change at the company. CAS Investment Partners intends to engage in communications with the board and management regarding opportunities to enhance stockholder value, including by improving operating performance, capital allocation matters, and composition of the Board. Source
- On September 19, 2023, CAS Investment Partners entered into a Cooperation Agreement with the company and pursuant to it, the company increased the size of the board to nine and appointed Alex Mishurov as a Class I director of the company at the 2025 AGM. Source
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