PROSF - Prosus invests additional $400M in Churchill Capital's planned merger with Skillsoft and Global Knowledge

As per the Strategic Support Agreement, Prosus N.V. (PROSF) to invest an additional $400M in Churchill II's planned acquisition of Software Luxembourg Holding S.A. and Global Knowledge Training LLC.This additional investment brings Prosus's total investment in Churchill II to $500M. This substantial investment will help further fund Skillsoft's already liquid capital structure, provide certainty to ensure consummation of the business combination and allow Skillsoft to execute on its business strategy and growth plan. "The additional investment from Prosus, a leading edtech investor, highlights our combined confidence in Skillsoft's new business strategy, leadership, and outlook to further accelerate the digital learning space," said Michael S. Klein, Chairman and CEO of Churchill II. "This provides both strategic partner capital as well as additional financial flexibility." Upon the close of the Skillsoft transaction and Prosus PIPE, Prosus will own ~30% of the combined company, and will have proportional board representation. Churchill II's acquisition

For further details see:

Prosus invests additional $400M in Churchill Capital's planned merger with Skillsoft and Global Knowledge