Nerdy, the Clayton-based parent of Varsity Tutors, has passed a final hurdle on the road to becoming a public company.
Nerdy announced in January that it would go public by merging with TPG Pace Tech Opportunities, a special-purpose acquisition company with shares listed on the New York Stock Exchange. TPG Pace’s shareholders approved the deal Tuesday at a special meeting.
The companies now say the deal will close Monday. Nerdy’s shares will begin trading the next day under the symbol NRDY.
Through Varsity Tutors, Nerdy operates an online learning platform with 54,000 active users. The deal with TPG Pace values Nerdy at $1.7 billion and will bring in $750 million of new capital.