secwatch.observer — SEC 8-K summary
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Issuer:     NERDWALLET, INC. (NRDS)
CIK:        0001625278
Form:       8-K
Filed at:   2022-06-24T23:59:59+00:00
Accession:  0001625278-22-000089
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NerdWallet to acquire On the Barrelhead for ~$120M; expects Q3 2022 close
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- Total consideration ~$120M: $70M cash from existing credit facility + $50M in stock (VWAP $10.37/share, half subject to 2-year lock-up).
- On the Barrelhead had ~$38M revenue in 2021 (~90% YoY growth) and $5M net income; deal expected to be accretive to 2022 revenue and adjusted EBITDA.
- Closing expected in Q3 2022, subject to customary conditions; ~$30M bonus retention pool for OTB management.
- CEO Tim Chen awarded 239,507 RSUs and 598,768 stock options; 4-year vest beginning July 1, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1625278/000162527822000089/0001625278-22-000089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1625278/000162527822000089/nrds-20220623.htm
  HTML page:      https://secwatch.observer/filing/0001625278-22-000089

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