NYSE: SKIL Skillsoft Corp. 8-K

Skillsoft completes sale of Global Knowledge business for $5.4M upfront plus $10M deferred

Filed July 10, 2026 · Period ending July 6, 2026 · ~1 min read

Key Changes

high

Skillsoft closed the divestiture of its Global Knowledge instructor-led training business to Enduring Ventures affiliate for approximately $5.4M initial consideration (via seller note) plus $10M deferred consideration payable over five quarterly installments starting nine months post-close.

Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR →
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The $5.4M upfront payment is structured as a seller note due July 31, 2026 (with $2M extendable to October 31, 2026), secured by the buyer's cash and receivables; deferred payments are guaranteed by the buyer and secured by transferred intellectual property.

Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR →
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Skillsoft retains a 30% earnout on any sale, merger, or recapitalization of the Global Knowledge business within three years, providing upside participation if the buyer resells at a higher valuation.

Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR →
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Skillsoft will maintain a strategic partnership with Global Knowledge, allowing Skillsoft customers continued access to instructor-led training and Global Knowledge customers access to Skillsoft's platform and content.

Exhibit 99.2 view on EDGAR →

Summary

Skillsoft completed the sale of its Global Knowledge instructor-led training business to an affiliate of Enduring Ventures on July 6, 2026, for total consideration of approximately $13.4 million ($5.4M upfront plus $8M net deferred after employee liabilities).

The divestiture simplifies Skillsoft's portfolio to focus entirely on its AI-native skills management platform while preserving customer access to instructor-led training through a strategic partnership. The deal structure carries execution risk: the $5.4 million upfront payment is a seller note secured only by the buyer's cash and receivables, with $2 million of principal extendable beyond the July 31, 2026 maturity.

The $8 million in deferred payments won't begin until April 2027 and are secured by intellectual property rather than hard assets. For a business Skillsoft is exiting, the consideration is modest and heavily back-loaded. The 30% earnout on any resale within three years provides some upside optionality if Enduring Ventures flips the asset at a higher valuation, but the primary consideration suggests limited market interest or distressed positioning. Investors should watch for the seller note's timely repayment and whether the deferred installments are made as scheduled.

Section-by-Section Diff

Event · Exhibit 99.2

~1,700 words View exhibit on EDGAR ↗

3 Added

Added Sale of Global Knowledge business high

Added in current filing · view on EDGAR →

Skillsoft (NYSE: SKIL), a leading AI-native skills management platform, today announced that it has completed the sale of its Global Knowledge business to an affiliate of Enduring Ventures.

Skillsoft has completed the divestiture of its Global Knowledge business unit to an affiliate of Enduring Ventures. This transaction simplifies Skillsoft's portfolio to focus entirely on its AI-native skills management platform while maintaining a strategic partnership with Global Knowledge to preserve customer access to instructor-led training.

Added Transaction consideration high

Added in current filing · view on EDGAR →

Pursuant to the Sale and Purchase Agreement announced on May 20, 2026, Skillsoft received initial consideration of approximately $5.4 million in the form of a seller note (after the application of agreed adjustments based on the estimated working capital, including cash, and indebtedness of the Global Knowledge Business), which amount is subject to further adjustment as set forth in the agreement. Skillsoft will also be entitled to deferred consideration in an aggregate amount of $10.0 million, less approximately $2.0 million, related to long-term employee liabilities.

Skillsoft received approximately $5.4 million in initial consideration as a seller note, subject to working capital and other adjustments. The company will also receive $10.0 million in deferred consideration, reduced by approximately $2.0 million for long-term employee liabilities, bringing total deferred consideration to approximately $8.0 million.

Added Strategic partnership with Global Knowledge medium

Added in current filing · view on EDGAR →

Skillsoft expects to maintain a strategic partnership with Global Knowledge, giving Skillsoft customers continued access to instructor-led training and Global Knowledge customers access to the Skillsoft platform, content, and skills intelligence capabilities.

Following the sale, Skillsoft will maintain a strategic partnership with Global Knowledge. This arrangement allows Skillsoft customers to continue accessing instructor-led training services while Global Knowledge customers gain access to Skillsoft's platform, content, and skills intelligence capabilities.

Event · Exhibit 99.1

~3,700 words View exhibit on EDGAR ↗

3 Added

Added Global Knowledge business sale high

Added in current filing · view on EDGAR →

On July 6, 2026, Skillsoft Corp. (together with its consolidated subsidiaries, “Skillsoft,” “we,” “us,” or “our”) completed the sale of all of the issued and outstanding limited liability company interests of Global Knowledge Training LLC, a Delaware limited liability company (the “Company,” and together with the Company’s direct and indirect subsidiaries, the “Transferred Companies”), pursuant to a Sale and Purchase Agreement, dated May 20, 2026 (the “SPA”), between GK Holdings, Inc., a Delaware corporation and wholly-owned subsidiary of Skillsoft (the “Seller”), and EHJob GP LLC, a Delaware limited liability company and affiliate of Enduring Ventures (the “Buyer”). The Transferred Companies operate Skillsoft’s former Global Knowledge (“GK”) business, which provides instructor-led training delivered both in-person and virtually.

Skillsoft closed the sale of its Global Knowledge business, which provided instructor-led training both in-person and virtually. The buyer is an affiliate of Enduring Ventures. The transaction was completed on July 6, 2026, under a purchase agreement signed in May 2026.

Added Sale consideration structure high

Added in current filing · view on EDGAR →

Under the terms of the SPA, the Seller received initial consideration of approximately $5.4 million at closing (after estimated closing adjustments), paid via promissory note (secured by the Company’s cash and accounts receivable). The Seller is also entitled to deferred consideration of $10.0 million, less approximately $2.0 million related to long-term employee liabilities, payable in five equal quarterly installments commencing nine months after the closing date, as well as contingent consideration for post-closing transactions specified in the SPA. The initial consideration is subject to customary final post-closing adjustments, including for working capital, cash and indebtedness. The Buyer’s obligation to pay the deferred consideration is guaranteed by the Company and secured by the Transferred Companies’ intellectual property rights.

Skillsoft received approximately $5.4 million at closing via promissory note secured by the sold business's cash and receivables. The company is also entitled to $10.0 million in deferred consideration (less approximately $2.0 million for employee liabilities), payable in five equal quarterly installments starting nine months after closing, plus contingent consideration tied to future transactions. The deferred payments are guaranteed by the sold company and secured by its intellectual property.

Added Pro forma financial impact medium

Added in current filing · view on EDGAR →

The unaudited pro forma condensed consolidated financial information has been prepared in accordance with Article 11 of Regulation S-X and is derived from Skillsoft's historical consolidated financial statements. The unaudited pro forma condensed consolidated balance sheet as of April 30, 2026, gives effect to the sale as if it had occurred on April 30, 2026. The unaudited pro forma condensed consolidated statements of operations for the three months ended April 30, 2026, and for the fiscal years ended January 31, 2026, 2025 and 2024 and reflect the reclassification as discontinued operations for all periods presented.

The filing includes unaudited pro forma financial statements showing Skillsoft's financial position and results as if the Global Knowledge sale had occurred at earlier dates. The Global Knowledge business is presented as discontinued operations across all periods, separating its historical results from Skillsoft's continuing operations.