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SPAC · Merger completed

TPG Pace Tech Opportunities Corp.

Business combination with Nerdy

TPG Pace Tech Opportunities Corp. is a blank-check company (SPAC) that raised $450M in its initial public offering on Oct 8, 2020, listing on New York Stock Exchange. It completed its business combination with Nerdy on Sep 20, 2021; the combined company is Nerdy, Inc. (NRDY). Morgan Stanley led the IPO, with Barclays and TPG Pace. Weil, Gotshal & Manges advised the SPAC and Ropes & Gray advised the underwriters on the IPO.

Nerdy is a curated gig economy and direct-to-consumer platform for learning and live online instruction. Its proprietary platform uses AI to connect learners with experts across 3,000+ subjects, in formats including one-to-one tutoring, live group classes and self-study.

Status
Merger completed
IPO date
Oct 8, 2020
IPO size
$450M
IPO exchange
New York Stock Exchange
Target
Nerdy (Varsity Tutors)
Announced
Jan 29, 2021
Closed
Sep 20, 2021
Combined company
Nerdy, Inc. (NRDY)
IPO underwriters
Morgan Stanley, Barclays and TPG Pace
SPAC counsel (IPO)
Weil, Gotshal & Manges and Maples and Calder
Underwriters' counsel (IPO)
Ropes & Gray

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