TPG Pace Tech Opportunities (NYSE: PACE), a publicly traded special purpose acquisition company, today announced that it expects all conditions to be met, including minimum cash proceeds, to complete its previously announced business combination with Nerdy, a leading platform for delivering live online learning. Based on the number of public shares submitted for redemption, the transaction is expected to raise more than $575 million of gross proceeds from the TPG Pace Tech Opportunities trust proceeds combined with the private placement (PIPE) and forward purchase agreement proceeds. A quorum of shareholders has thus far voted in favor of all proposals presented in the proxy, including closing the business combination with Nerdy. Therefore, the company anticipates receiving stockholder approval at its Special Meeting of Stockholders scheduled for September 14, 2021, and expects to close the transaction on September 20, 2021.
TPG Pace Tech Opportunities Corp. Expected to Close Combination with Nerdy on September 20, 2021 and Generate Proceeds of More than $575 Million
Sep 13, 2021
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