---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-230179"
form_type: "8-K"
ticker: null
cik: "0001835681"
company_name: "POWERSCHOOL HOLDINGS, INC."
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-30T23:41:54.420086+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# PowerSchool acquired by Bain Capital for $22.80/share, $5.6B enterprise value

## Summary
- Acquisition closed at $22.80/share in cash; total enterprise value ~$5.6B.
- Aggregate purchase price for outstanding shares (excl. rollover/owned) ~$3.01B; rollover equity ~$1.68B.
- Bain Capital funded transaction with ~$1.75B equity and $2.375B term loan from Ares/HPS/others.
- PowerSchool's common stock delisted from NYSE; company will operate as private standalone entity.
- Board of directors resigned; replaced by Bain Capital designees; CEO Hardeep Gulati remains.

## SEC filing metadata
- accession: 0001193125-24-230179
- form_type: 8-K
- cik: 0001835681
- company_name: POWERSCHOOL HOLDINGS, INC.
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 3.03, 5.01, 5.02, 5.03, 2.03, 3.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/d94063d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-230179
- JSON: https://secwatch.observer/filing/0001193125-24-230179.json
- Plain text: https://secwatch.observer/filing/0001193125-24-230179.txt

## Key facts
- Executive change
  Barbara Byrne resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Zach Levitt resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Betty Hung resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Amy McIntosh resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Gwen Reinke resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Judy Cotte resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Ronald D. McCray resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Maneet S. Saroya resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Laurence Goldberg resigned as Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- Executive change
  Hardeep Gulati resigned as Chief Executive Officer and Director at POWERSCHOOL HOLDINGS, INC..
  - Action: resigned
  - Role: Chief Executive Officer and Director
  source text: each of Hardeep Gulati, Laurence Goldberg, Maneet S. Saroya, Betty Hung, Gwen Reinke, Zach Levitt, Judy Cotte, Amy McIntosh, Barbara Byrne and Ronald D. McCray resigned from the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm
- M&A Transactions
  POWERSCHOOL HOLDINGS, INC. underwent a change of control involving BCPE Polymath Buyer, Inc. / Bain Capital Private Equity for $22.80 in cash per share (closed 2024-10-01).
  - Action: change of control
  - Counterparty: BCPE Polymath Buyer, Inc. / Bain Capital Private Equity
  - Consideration: $22.80 in cash per share
  - Closing: 2024-10-01
  source text: 262 of, the General Corporation Law of the State of Delaware (the “ Appraisal Shares ”), was automatically cancelled, extinguished and converted into the right to receive $22.80 in cash without interest thereon (the “ Per Share Price ”), after giving effect to any required withholding taxes. At the Effective Time, pursuant to the terms of the Merger
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835681/000119312524230179/0001193125-24-230179-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.