On April 15, 2024, ClearBridge Investments, Inc. announced that it has sent a letter to the Chairman of the Board of Model N, Inc. The purpose of the letter is to urge the Company?s Board of Directors to reconsider its recently announced agreement to be acquired by Vista Equity Partners. ClearBridge Investments stated that it is writing on behalf of several strategies to offer its thoughts on the proposed acquisition of the Company by Vista Equity Partners. ClearBridge Investments expressed its view that the proposed acquisition materially undervalues the Company?s outlook as a public Company or value to strategic or financial buyers.