Online education platform Nerdy Inc. has agreed to go public through a merger with a blank-check company backed by private equity firm
The transaction with TPG Pace Tech Opportunities Corp. will give Nerdy an equity value of about $1.7 billion, according to the companies.
The deal will provide as much as $750 million in cash proceeds, including $150 million in an oversubscribed private investment in public equity, or PIPE, they said. Investors in the PIPE include Franklin Templeton, Healthcare of Ontario Pension Plan, Koch Industries and
Nerdy will have about $300 million in cash and ...