NetworkNewsBreaks – Online Learning Platforms Su
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Posted On: 02/03/2021 2:54:40 PM
NetworkNewsBreaks – Online Learning Platforms Such as Amesite Inc. (NASDAQ: AMST), Nerdy Seeing Growth
Amesite Inc. (NASDAQ: AMST), an AI-driven platform and course designer that provides customized, high-performance and scalable online products for schools and businesses, is part of a growing sector. Nerdy, a similar online learning platform, recently announced that it had agreed to go public through a merger with a blank-check company backed by private equity firm TPG Pace Tech Opportunities Corp. (NYSE: PACE). The announcement noted that, once the transaction with TPG is complete, Nerdy will have equity value of approximately $1.7 billion. The agreement will provide up to $750 million in cash proceeds, including $150 million in an oversubscribed private investment in public equity, or PIPE. Franklin Templeton, Healthcare of Ontario Pension Plan, Koch Industries and Learn Capital were announced as PIPE investors. Following the completion of the transaction, which is scheduled for early in the Q2 2021, it is anticipated that Nerdy will trade on the New York Stock Exchange under the symbol NRDY. “We are the only company that has figured out how to scale high-quality live instruction through a platform,” said Nerdy founder and CEO Chuck Cohn in the press release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Amesite Inc. (NASDAQ: AMST), an AI-driven platform and course designer that provides customized, high-performance and scalable online products for schools and businesses, is part of a growing sector. Nerdy, a similar online learning platform, recently announced that it had agreed to go public through a merger with a blank-check company backed by private equity firm TPG Pace Tech Opportunities Corp. (NYSE: PACE). The announcement noted that, once the transaction with TPG is complete, Nerdy will have equity value of approximately $1.7 billion. The agreement will provide up to $750 million in cash proceeds, including $150 million in an oversubscribed private investment in public equity, or PIPE. Franklin Templeton, Healthcare of Ontario Pension Plan, Koch Industries and Learn Capital were announced as PIPE investors. Following the completion of the transaction, which is scheduled for early in the Q2 2021, it is anticipated that Nerdy will trade on the New York Stock Exchange under the symbol NRDY. “We are the only company that has figured out how to scale high-quality live instruction through a platform,” said Nerdy founder and CEO Chuck Cohn in the press release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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