On August 29, 2022, Zendesk Inc announced that it has confirmed an unsolicited non-binding recapitalization proposal from Light Street Capital Management LLC which indicated that the non-binding proposal contemplates a recapitalization of Company consisting of a $2 billion preferred equity investment to be arranged by Light Street Capital Management LLC, a $2 billion incremental debt facility and $1 billion of cash from CompanyÆs balance sheet.