secwatch.observer — SEC 8-K summary
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Issuer:     Nerdy Inc. (NRDY)
CIK:        0001819404
Form:       8-K
Filed at:   2021-09-24T23:59:59+00:00
Accession:  0001193125-21-282190
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 3.02, 1.01, 1.02, 2.01, 9.01, 3.01, 3.03, 4.01, 5.01, 5.02, 5.03, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819404/000119312521282190/0001193125-21-282190-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819404/000119312521282190/d194845d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-282190

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