SKIL - Skillsoft says on track to meet FY22 guidance; launches debt refinancing

Skillsoft (SKIL) says Q1 results exceed internal plan, with a strong performance in core content business; Company remains on track to meet fiscal 2022 guidance.Skillsoft noted that continued growth in Percipio drove improvement in dollar retention rate during the fiscal first quarter.In addition, the Company has begun marketing for a refinancing of a substantial amount of its long-term debt.The Company expects to improve financial flexibility by reducing interest expense & increasing FCF.Terms of the potential refinancing will be disclosed upon completing the transaction, foreseen to occur in July 2021.Previously (June 11): Stockholders of Churchill Capital II and Skillsoft approves long-awaited merger

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Skillsoft says on track to meet FY22 guidance; launches debt refinancing