{"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","headline":"Nerdy enters $50M loan facility with Hercules Capital; draws $20M initially","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001819404-25-000075","json":"https://secwatch.observer/filing/0001819404-25-000075.json","markdown":"https://secwatch.observer/filing/0001819404-25-000075.md","text":"https://secwatch.observer/filing/0001819404-25-000075.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1819404/000181940425000075/0001819404-25-000075-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1819404/000181940425000075/nrdy-20251103.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T23:57:04.645634+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}