Nerdy enters $50M loan facility with Hercules Capital; draws $20M initially

Nerdy Inc.

Initial draw of $20M from first tranche; remaining $10M available until Dec 31, 2026.
Interest rate: prime + 3.5% (floor 10.75%); maturity Nov 1, 2029.
Interest-only payments for 36 months, extendable to 48 months upon milestone achievement.
Covenants include minimum $15M Qualified Cash or 6 months liquidity; borrowing base tied to TTM Contribution Margin.
Loan secured by substantially all assets; end-of-term charge of 7.5% of funded amount.

item 1.01 item 2.03 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001819404-25-000075
form_type: 8-K
ticker: NRDY
cik: 0001819404
company_name: Nerdy Inc.
filed_at: 2025-11-06T23:59:59+00:00
discovered_at: 2026-05-14T18:02:40.590293+00:00
generated_at: 2026-05-16T23:57:04.645634+00:00
sec_items: ["1.01", "2.03", "9.01"]
event_type: debt
sentiment: neutral
materiality_score: 0.65
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001819404-25-000075
json_url: https://secwatch.observer/filing/0001819404-25-000075.json
markdown_url: https://secwatch.observer/filing/0001819404-25-000075.md
text_url: https://secwatch.observer/filing/0001819404-25-000075.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1819404/000181940425000075/0001819404-25-000075-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1819404/000181940425000075/nrdy-20251103.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
correction_timestamp: null
superseded_by: null

JSON Markdown Plain text

Source: SEC EDGAR

accession 0001819404-25-000075

view filing index on sec.gov

view primary document

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.