{"schema_version":"secwatch.filing_event.v1","accession":"0001305323-22-000079","form_type":"8-K","ticker":null,"cik":"0001305323","company_name":"Zovio Inc","filed_at":"2022-11-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:50.073844+00:00","generated_at":"2026-06-21T11:33:22.637774+00:00","sec_items":["1.01","2.01","9.01"],"event_type":"m_and_a","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Zovio sells Fullstack Academy for $31M cash; proceeds to settle creditors, none for stockholders","bullets":["Sale price $31M cash, adjusted by $6M regulatory, $4.1M debt assumption, $1.7M fees.","Proceeds used to settle creditors in dissolution; no distribution expected to stockholders.","Pro forma net loss for 9M 2022: $9.2M vs historical $15.6M after eliminating Fullstack.","FY2021 pro forma net loss $32.4M vs historical $42.3M after eliminating Fullstack operations."],"urls":{"canonical":"https://secwatch.observer/filing/0001305323-22-000079","json":"https://secwatch.observer/filing/0001305323-22-000079.json","markdown":"https://secwatch.observer/filing/0001305323-22-000079.md","text":"https://secwatch.observer/filing/0001305323-22-000079.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1305323/000130532322000079/0001305323-22-000079-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1305323/000130532322000079/zvo-20221123.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T11:33:22.637774+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"17db80d300f97bc2fd4cf21018a28cbc5ad17752","claim":"Zovio Inc completed a disposition involving Simplilearn Americas, Inc. for $31 million in cash (closed 2022-11-23).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1305323/000130532322000079/0001305323-22-000079-index.htm","confidence":1.0,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Simplilearn Americas, Inc."},{"label":"Consideration","value":"$31 million in cash"},{"label":"Closing","value":"2022-11-23"}],"fact_type":"ma_transaction"},{"claim_id":"370bdae6097310c90d9f2aa14f0993d875db6cbb","claim":"Zovio Inc entered into Purchase Agreement with Simplilearn Americas, Inc. valued at $31 million (effective 2022-11-23).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1305323/000130532322000079/0001305323-22-000079-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Simplilearn Americas, Inc."},{"label":"Value","value":"$31 million"},{"label":"Effective","value":"2022-11-23"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}