Domo sells assets for $400M, retains $900M NOLs, becomes SPAC‑like shell
Progress Software will buy Domo’s software, customer base and IP for $400 million in an asset sale, leaving Domo with about $246 million in cash and roughly $900 million of net operating losses. By preserving the public‑company shell and the tax loss carryforwards, Domo can now act like a SPAC, using the cash to acquire a profitable business and offset future taxes.