Exhibit 99.1
TPG Pace Tech Opportunities Corp. Expected to Close Combination with Nerdy on
September 20, 2021 and Generate Proceeds of More than $575 Million
TPG Pace Tech Expects All Conditions to Be Met to Complete Business Combination
Special Meeting of Stockholders to be Held on September 14, 2021; Business Combination Expected to
Close on September 20, 2021 Subject to Final Vote
Shares of the Combined Company Expected to Begin Trading on NYSE under the ticker “NRDY” on September 21, 2021
SAN FRANCISCO & Remote-First-Company / ST. LOUIS, September 13, 2021 — TPG Pace Tech Opportunities (NYSE: PACE), a publicly traded special purpose acquisition company, today announced that it expects all conditions to be met, including minimum cash proceeds, to complete its previously announced business combination with Nerdy, a leading platform for delivering live online learning. Based on the number of public shares submitted for redemption, the transaction is expected to raise more than $575 million of gross proceeds from the TPG Pace Tech Opportunities trust proceeds combined with the private placement (PIPE) and forward purchase agreement proceeds. A quorum of shareholders has thus far voted in favor of all proposals presented in the proxy, including closing the business combination with Nerdy. Therefore, the company anticipates receiving stockholder approval at its Special Meeting of Stockholders scheduled for September 14, 2021, and expects to close the transaction on September 20, 2021.
Upon closing, the combined company is expected to remain listed on the New York Stock Exchange with its common stock and warrants trading under the new ticker symbols, “NRDY” and “NRDY WS”, respectively beginning September 21, 2021.
The shareholder vote at the Extraordinary General Meeting (the “Special Meeting”) is scheduled to occur at 10:00 am Eastern Time, on September 14, 2021 at https://www.cstproxy.com/tpgpacetechopportunities/2021 and at the offices of Vinson & Elkins L.L.P., located at 1114 Avenue of the Americas, 32nd Floor, New York, NY 10036.
Important Information
Neither the SEC or any state securities commission has approved or disapproved of the securities to be issued in connection with the Business Combination, or determined if the Registration Statement is accurate or adequate.
About TPG
TPG is a leading global alternative asset firm founded in 1992 with approximately $96 billion of assets under management and offices in Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, real estate, secondaries, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com or Twitter @TPG.