Benzinga | Jun 8, 2021 04:09PM EDT

Churchill Capital Corp II, Skillsoft Expect To Close On June 11, 2021

Churchill Capital Corp II, ("Churchill II" or the "Company") (NYSE:CCX), a special purpose acquisition company which has entered into a definitive agreement to merge with Software Luxembourg Holding S.A. ("Skillsoft"), a global leader in digital learning and talent management solutions, affirms the expectation of closing the transaction on Friday, June 11, 2021, which will also represent a significant step towards completing Churchill II's pending acquisition of Albert DE Holdings Inc. ("Global Knowledge"), a worldwide leader in IT and professional skills development.

Churchill II highlights positive transaction attributes including:

* Prosus, whose $500m strategic equity investment related to Churchill II's acquisition of Skillsoft and Global Knowledge cleared regulatory review as announced on May 13, 2021, which is available here, plans to, upon completion of the merger, nominate Patrick Kolek, Prosus Group Chief Operating Officer, as Chairperson of the Board of the Company, and Larry Illg, CEO Prosus EdTech and Food, as a Director of the Company.

* The Company has announced its post-merger management team on June 7, 2021, which is available here. Skillsoft and Global Knowledge continue to perform in line with Churchill's internal plan and the Company is reaffirming the combined Skillsoft-Global Knowledge FY 2022 outlook for Adjusted Gross Revenue and Adjusted EBITDA in the range of $645-675 million and $155-175 million, respectively, as previously disclosed in the Company's press release on May 13, 2021, which is available here, and investor presentation on May 19, 2021, which is available here.