A blank check company backed by private equity firm TPG said on Friday it will take Nerdy Inc public through a merger, in a deal valuing the online learning platform at $1.7 billion.
Top Performing SPACs of 2020
SPACs also known as blank check vehicles, have raised a record $82.1 billion in 2020 as of Dec. 24 — a sixfold increase from last year’s record high, according to data from Dealogic. Throughout the year, these companies have been busy in the cannabis, green technology, and sports-betting arenas, scooping up corporations like DraftKings and Nikola.