secwatch.observer — SEC 8-K summary
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Issuer:     Zovio Inc (—)
CIK:        0001305323
Form:       8-K
Filed at:   2022-11-30T23:59:59+00:00
Accession:  0001305323-22-000079
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zovio sells Fullstack Academy for $31M cash; proceeds to settle creditors, none for stockholders
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1305323/000130532322000079/0001305323-22-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1305323/000130532322000079/zvo-20221123.htm
  HTML page:      https://secwatch.observer/filing/0001305323-22-000079

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer