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  "documentTitle": "Nerdy | Investor Presentation Deck | 43 slides",
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  "authorName": "Nerdy",
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  "presentationDate": "2022-08-01 00:00:00",
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      "text": "Sponsor 5%\nPIPE Investors 9%\nFPA Investors 9%\nExisting Nerdy Shareholders 51%¹\nSPAC IPO 26%",
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      "text": "Post-Transaction Ownership (Illustrative)",
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      "text": "Uses\nExisting Nerdy Shareholders Equity Rollover¹\nCash to Nerdy Shareholders²\nRepayment of Outstanding Debt\nCash to Balance Sheet²\nSponsor Shares³\nFees and Expenses\nTotal Uses\n$MM\n$862\n388\n52\n255\n90\n55\n$1,702\n%\n51%\n23%\n3%\n15%\n5%\n3%\n100%",
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      "text": "TEV / 2022F Revenue\n7.1x",
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      "text": "1. Includes unvested employee options and equity awards.\n2. Assumes no redemptions by SPAC shareholders. Cash to Nerdy shareholders subject to adjustments.\n3. Includes sponsor shares forfeited to FPA investors.\n4. Other outstanding instruments from PACE.U IPO and FPA: 12 million warrants for 12 million shares at $11.50 per share; 7.3 million private warrants for 7.3 million shares at $11.50 per share, 4 million Seller Earnout shares, and 4 million Sponsor Earnout shares.\n5. Existing Nerdy Shareholder and Sponsor to each receive up to 4 million earn-out shares that vest based off stock price hurdles between $12 and $16 per share over 5 years. Please see slide 41 \"Illustrative Fully-Diluted Share Count\" for more details.",
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      "text": "Sources\nExisting Nerdy Shareholders Equity Rollover¹\nSPAC Cash in Trust²\nForward Purchase Agreements\nPIPE\nSponsor Shares³\nTotal Sources\n$MM\n$862\n450\n150\n150\n90\n$1,702\n%\n51%\n26%\n9%\n9%\n5%\n100%",
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      "text": "Illustrative Share Price\nShares Outstanding 1,4,5\nEquity Value\nNet Cash Balance²\nTotal Enterprise Value\n$MM\n$10.00\n170.2\n$1,702\n(297)\n$1,405",
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