Nerdy Inc. completes de-SPAC merger with Nerdy LLC; $336.8M cash + equity consideration

Nerdy Inc.

Legacy Nerdy holders received $336.8M cash, 18.58M Class A shares, 392,580 warrants, and 76.73M OpCo Units.
PIPE Financing: 15M Class A shares sold for $150M; FPA Financing: 16.12M shares + 3M warrants for $150M.
16.32M public shares redeemed for ~$163.2M at $10.00 per share; remaining trust proceeds used for merger.
Post-close ownership: public 17.2%, sponsor 8.7%, PIPE 9.0%, FPA (ex-sponsor) 8.0%, Legacy Nerdy 57.1%.
Company operates through OpCo; board of managers includes 3 designees from Nerdy Inc., 2 from non-company members.

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