On March 14, 2023, Magnet Forensics Institutional Shareholder Services Inc announced that independent proxy advisory firm Institutional Shareholder Services Inc recommended the shareholders of the Company to vote for the plan of arrangement with Thoma Bravo. In addition, Institutional Shareholder Services stated in its recommendation that the offer represents a premium to the unaffected price, the sale process and valuation appears reasonable, and there are downside risks of non-approval, the strategic rationale for the transaction, risks of non-approval by shareholders and assessment of the dissident?s alternative valuation arguments.