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Filing Details

Accession Number:: 0001567619-21-017423
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-09-21 21:55:44
Reporting Period:: 2021-09-17

Accepted Time:: 2021-09-21 21:55:44
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1819404	Nerdy Inc.	PACE	()	DE

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1569049	Light Street Capital Management, Llc	525 University Avenue Suite 300 Palo Alto CA 94301	No	No	Yes	No
1723534	Thomas Glen Kacher	525 University Avenue, Suite 300 Palo Alto CA 94301	No	No	Yes	No
1723642	Light Street Mercury Master Fund, L.p.	525 University Avenue, Suite 300 Palo Alto CA 94301	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-17	20,086	$11.13	583,842	No	4	P	Indirect	See footnotes
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-17	3,616	$11.13	108,560	No	4	P	Indirect	See footnotes
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-20	540,000	$10.00	6,336,937	No	4	P	Indirect	See footnotes
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-20	2,200,000	$10.00	8,536,937	No	4	P	Indirect	See footnotes
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-20	48,210	$10.00	632,052	No	4	P	Indirect	See footnotes
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-20	11,790	$10.00	120,350	No	4	P	Indirect	See footnotes
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-21	3,257	$11.55	635,309	No	4	P	Indirect	See footnotes
Class A Ordinary Shares, Par Value $0.0001 Per Share	Acquisiton	2021-09-21	543	$11.55	120,893	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes
No	4	P	Indirect	See footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Ordinary Shares, Par Value $0.0001 Per Sha	Warrants to purchase Class A ordinary shares	Acquisiton	2021-09-20	900,000	$0.00	900,000	$11.50
Class A Ordinary Shares, Par Value $0.0001 Per Sha	Warrants to purchase Class A ordinary shares	Acquisiton	2021-09-20	400,000	$0.00	400,000	$11.50

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
900,000		2027-10-09	No	4	P	Indirect
400,000		2027-10-09	No	4	P	Indirect

Footnotes

The Class A ordinary shares ("Shares") are held directly for the account of Light Street Mercury Master Fund, L.P. ("Mercury"), and indirectly by Light Street Capital Management, LLC ("LSCM") and Glen Thomas Kacher ("Mr. Kacher").
These Shares are held directly for the account of Light Street Tungsten Master Fund, L.P. ("Tungsten"), and indirectly by LSCM and Mr. Kacher.
These Shares are held directly for the account of Light Street Halo, L.P. ("Halo"), and indirectly by LSCM and Mr. Kacher.
LSCM serves as investment adviser and general partner to Mercury, Tungsten and Halo. Mr. Kacher is the Chief Investment Officer and Founder of LSCM. Each of LSCM, Mr. Kacher, Mercury, Tungsten and Halo disclaims beneficial ownership of the Shares reported herein except to the extent of its or his pecuniary interest therein, and the inclusion of such Shares in this report shall not be deemed an admission of beneficial ownership of all of the reported Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
These Shares were acquired in connection with the closing of the Business Combination between the Issuer and Live Learning Technologies LLC (the "Closing"), pursuant to a Subscription Agreement with the Issuer dated January 28, 2021 (the "PIPE Financing").
These Shares and warrants to acquire Shares ("Warrants") were acquired in connection with the Closing, pursuant to a Forward Purchase Agreement with the Issuer dated September 23, 2020 (the "Forward Purchase Agreement"). Pursuant to the Forward Purchase Agreement, the Issuer agreed to issue to Class A Shares at a price of $10.00 per share, plus warrants to purchase one Class A Share at $11.50 per share. The transactions contemplated by the PIPE Financing and Forward Purchase Agreement closed substantially concurrently with the Closing.
These Warrants are exercisable beginning 30 days after the Closing and may be exercised for cash or on a cashless basis.
These Warrants were part of Units of the Issuer that the Reporting Persons acquired for $10 per share.