Nerdy to Become Public Company via Business Combination with TPG Pace Tech Opportunities (PACE)

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Nerdy to Become Public Company via Business Combination with TPG Pace Tech Opportunities

January 29, 2021 7:30 AM EST

- Nerdys direct-to-consumer, gig economy platform is transforming how people learn as digital disruption accelerates market expansion

- Nerdy to benefit from additional capital to build on significant momentum and further accelerate growth

- Transaction values Nerdy at a $1.7 billion market capitalization; provides up to $750 million in cash proceeds, including a fully committed PIPE of $150 million, forward purchase agreements of $150 million and up to $450 million held in TPG Pace Tech Opportunities trust account

- PIPE includes funds and accounts managed by top-tier institutional investors, including Franklin Templeton, Healthcare of Ontario Pension Plan,... More