secwatch.observer — SEC 8-K summary
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Issuer:     Nerdy Inc. (NRDY)
CIK:        0001819404
Form:       8-K
Filed at:   2023-09-26T23:59:59+00:00
Accession:  0001193125-23-242039
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nerdy closes warrant exchange with 97.5% tendered; cancels 60% of earnout shares
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- 97.5% of outstanding public warrants validly tendered; non-tendered warrants forcibly exchanged at 0.2250 Class A shares each.
- All private warrants automatically exchanged/exercised at 0.250 ratio; warrant amendment executed September 26, 2023.
- Earnout holders forfeited 60% of 8M earnout shares; remaining 40% vested and no longer subject to forfeiture.
- Net result: cancellation of ~19.3M warrants and 4.8M earnout shares; net share count increase of ~20,275 (<0.1%).
- Last trading day for public warrants was September 27, 2023; settlement expected by September 28, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819404/000119312523242039/0001193125-23-242039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819404/000119312523242039/d524047d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-242039

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