Skillsoft Corp. Form 8-K Filing

Skillsoft Corp. has entered into a Sale and Purchase Agreement (SPA) with GK Holdings, Inc. for the sale of all issued and outstanding limited liability company interests of Global Knowledge Training LLC, a subsidiary that operates Skillsoft's Global Knowledge business. The transaction is valued at an initial consideration of $10,000,000, subject to adjustments for working capital and indebtedness. Additional deferred consideration of $10,000,000 is payable in installments. Skillsoft intends to use the net proceeds for general corporate purposes and to focus resources on its AI-native skills management platform. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second fiscal quarter. The SPA includes customary warranties, indemnities, and pre- and post-closing covenants. The company has also announced this transaction via a press release and a frequently asked questions document.