M&A
confidence high
sentiment neutral
materiality 0.85
TPG Pace stockholders approve Nerdy merger; expects >$575M proceeds, closing Sept 20
Nerdy Inc.
- Business Combination approved by ~95% of votes cast; all 13 proposals passed.
- ~36% of public shares redeemed; gross proceeds >$575M from trust, PIPE, and forward purchase.
- Closing expected Sept 20, 2021; combined co. to trade on NYSE as "NRDY" and "NRDY WS" starting Sept 21.
- Domestication to Delaware approved; name changes to Nerdy Inc.; Up-C structure authorized.
- New board elected: Charles Cohn, Greg Mrva, Rob Hutter, Woody Marshall, Catherine Beaudoin, Erik Blachford, Kathleen Philips.