Exclusive: Gusto launches $200 million-plus tender offer

Gusto, an HR tech startup valued at more than $9 billion, is conducting an over $200 million tender offer via a new deal led by the Ontario Teachers’ Pension Plan.

The tender offer, which begins Monday and runs through July 8, will allow employees in the company to cash out some of their shares while giving the Canadian fund its first stake in the company. 

“Given the momentum, we’ve had investors interested in owning Gusto stock for a long time,” Gusto CEO and cofounder Josh Reeves told Fortune via email.