Churchill Capital II said merger targets Skillsoft and Global Knowledge Training both exceeded forecasts for fiscal 2021. The SPAC also said it filed an amended annual report to reflect new accounting for warrants — a response to an SEC statement last month.
In addition, the SPAC said that Prosus, one of the world’s largest technology investors, received notice from the Committee on Foreign Investment in the United States that it has approved Prosus’s Second Step equity investment related to Churchill II’s acquisition of Skillsoft and Global Knowledge. This approval brings Prosus’s investment to $500 million and is an important step toward completing the business combination, Churchill II said in a statement.
The Prosus PIPE, in addition to expected cash on hand at the time of closing, “substantially satisfies the minimum cash condition in the Skillsoft merger agreement ($644M) and excludes the benefit of any cash held in trust, net of any redemptions,” Churchill II said. Read more.
