Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 1.0
Zovio Inc completed a disposition involving Simplilearn Americas, Inc. for $31 million in cash (closed 2022-11-23).
- Action
- disposition
- Counterparty
- Simplilearn Americas, Inc.
- Consideration
- $31 million in cash
- Closing
- 2022-11-23
Exact text from the filing
the transaction contemplated thereby, the “Transaction”) pursuant to which the Company sold all of its right title and interest in Fullstack to Purchaser for a purchase price of $31 million in cash, which is subject to certain adjustments and a customary post-closing working capital adjustment as set forth in the Purchase Agreement. The adjustments result in
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Zovio Inc entered into Purchase Agreement with Simplilearn Americas, Inc. valued at $31 million (effective 2022-11-23).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Simplilearn Americas, Inc.
- Value
- $31 million
- Effective
- 2022-11-23
Exact text from the filing
On November 23, 2022, Zovio Inc, a Delaware corporation (“Zovio” or the “Company”), Fullstack Academy, LLC, a California limited liability company and a wholly-owned subsidiary of Zovio (“Fullstack”), and Simplilearn Americas, Inc. (“Purchaser”), entered into a Membership Interest Purchase Agreement (the “Purchase Agreement” and the transaction contemplated thereby, the “Transaction”) pursuant to which the Company sold all of its right title and interest in Fullstack to Purchaser for a purchase price of $31 million in cash, which is subject to certain adjustments and a customary post-closing working capital adjustment as set forth in the Purchase Agreement.
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