(Reuters) – Zendesk Inc investor Light Street Capital Management on Monday reaffirmed its decision to vote against the software firm’s $10.2-billion go-private deal with investment firms Hellman & Friedman and Permira.

In a letter to the company board, Light Street also asked it to postpone the voting on the deal, which is due Sept. 19. Zendesk did not immediately respond to a request for comment.

Light Street in August had proposed a recapitalization of Zendesk, with a $2 billion preferred equity investment arranged by the investment firm and a $2 billion incremental debt facility.

Light Street also suggested that the software maker issue a $5 billion tender offer at $82.50 per share for those who would like to sell their shares, and expand its board to 10 seats, including five directors from Light Street and other preferred equity shareholders.

Zendesk said Light Street’s proposal vas vague and would result in uncertain value and an increase in operational, financial and governance risks.

Last week, proxy advisory firm Institutional Shareholder Services warned that there would be “significant downside risk” if Zendesk shareholders failed to approve the proposed deal.

(Reporting by Tiyashi Datta and Eva Mathews in Bengaluru; Editing by Vinay Dwivedi)