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Employer<br />Identification No.)</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p><a id="_8901bee2_fa3b_4362_a5e4_fbc40eaaec66"></a><a id="Tc_GFp84vOGfUqGtSLm2vtkvQ_1_0"></a><a id="Tc_4dgqwv-z1ki2ruQbPKsW2w_2_0"></a><a id="Tc_-T4EC7yDt0K9wRv-zCGXZQ_2_1"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:69.99%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:79.99%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:20%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:79.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:EntityAddressAddressLine1" id="Narr_hHJbB9AzN02qrOMa9nra9A"><b style="font-weight:bold;">300 Innovative Way</b></ix:nonNumeric><b style="font-weight:bold;">, </b><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:EntityAddressAddressLine2" id="Narr_MuCfxxo02kGzExNk9sq7dw"><b style="font-weight:bold;">Suite 201</b></ix:nonNumeric><b style="font-weight:bold;"><br /></b><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:EntityAddressCityOrTown" id="Narr_xTUPQ_hzK0GFuQwPH31xTw"><b style="font-weight:bold;">Nashua</b></ix:nonNumeric><b 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style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Zip Code)</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:12pt 0pt 0pt 0pt;"><b style="font-weight:bold;">(</b><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:CityAreaCode" id="Narr_fPbPk_4IREq83a5QHQWlmA"><b style="font-weight:bold;">603</b></ix:nonNumeric><b style="font-weight:bold;">) </b><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:LocalPhoneNumber" id="Narr_HDImS7kwTUmQGuP43TgBeg"><b style="font-weight:bold;">324-3000</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;">Registrant&#x2019;s telephone number, including area code</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p><a id="_a3db9696_494d_4ad2_829c_1f22950cdd89"></a><a id="Tc_oWkA1-cM60KHShsOAY-jZg_1_1"></a><a id="Tc_GefuUyY95kO0CK8avA4hzA_2_1"></a><a id="Tc_zTydngt0ckiJICfSjazK5g_3_1"></a><a id="Tc_ZRELZVQeHkOUzG4-53NbKQ_4_1"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:3.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p></div></div></td><td style="vertical-align:top;width:96.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:3.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric format="ixt-sec:boolballotbox" contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:WrittenCommunications" id="Tc_Cr0Td3Q1vkebc7F-Gl6jBg_1_0"><span style="font-family:'Segoe UI Symbol';">&#x2610;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:96.15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr><tr><td style="vertical-align:top;width:3.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric format="ixt-sec:boolballotbox" contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:SolicitingMaterial" id="Tc_AzUkkRuwi0OlBgYb5974dg_2_0"><span style="font-family:'Segoe UI Symbol';">&#x2610;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:96.15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p></td></tr><tr><td style="vertical-align:top;width:3.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric format="ixt-sec:boolballotbox" contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:PreCommencementTenderOffer" id="Tc_b2SS1zFqHkS5R5scvXQQTw_3_0"><span style="font-family:'Segoe UI Symbol';">&#x2610;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:96.15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p></td></tr><tr><td style="vertical-align:top;width:3.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric format="ixt-sec:boolballotbox" contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:PreCommencementIssuerTenderOffer" id="Tc_4KFWc4UWoUeIlOO6BaXg0A_4_0"><span style="font-family:'Segoe UI Symbol';">&#x2610;</span></ix:nonNumeric></p></td><td style="vertical-align:top;width:96.15%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:12pt 0pt 12pt 0pt;">Securities registered pursuant to Section 12(b) of the Act:</p><a id="_850bd15c_0267_4341_87e8_997b82d736fd"></a><a id="Tc_Wkjcs9ez-EiknC3y1dr9Bw_1_0"></a><a id="Tc_YpN9DxyBUkes6xUIKYMaNA_1_2"></a><a id="Tc_uiBdZ1FLGE2w2Y9Fmo-MbA_1_4"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:44.74%;margin:0pt;padding:0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:14.06%;margin:0pt;padding:0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:2.16%;margin:0pt;padding:0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:36.86%;margin:0pt;padding:0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:44.74%;border-bottom:1px solid #000000;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Title of each class</b></p></td><td style="vertical-align:bottom;width:2.16%;border-bottom:1px solid transparent;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#xA0;&#xA0;&#xA0;&#xA0;</p></td><td style="vertical-align:bottom;width:14.06%;border-bottom:1px solid #000000;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Trading </b><b style="font-weight:bold;"><br /></b><b style="font-weight:bold;">Symbol(s)</b></p></td><td style="vertical-align:bottom;width:2.16%;border-bottom:1px solid transparent;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#xA0;&#xA0;&#xA0;&#xA0;</p></td><td style="vertical-align:bottom;width:36.86%;border-bottom:1px solid #000000;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Name of each exchange </b><b style="font-weight:bold;"><br /></b><b style="font-weight:bold;">on which registered</b></p></td></tr><tr><td style="vertical-align:top;width:44.74%;border-top:1px solid #000000;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember_qOynT4lSmE6snTDBj9BRtw" name="dei:Security12bTitle" id="Tc_UP6ORJ_16U2iVMIgYYLxXQ_2_0">Class A common stock, $0.0001 par value per share </ix:nonNumeric></p></td><td style="vertical-align:top;width:2.16%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:14.06%;border-top:1px solid #000000;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember_qOynT4lSmE6snTDBj9BRtw" name="dei:TradingSymbol" id="Tc_5Dj1xXny00Ko7V7bfOZqOA_2_2">SKIL</ix:nonNumeric></p></td><td style="vertical-align:top;width:2.16%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:36.86%;border-top:1px solid #000000;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric format="ixt-sec:exchnameen" contextRef="Duration_12_2_2022_To_12_2_2022_us-gaap_StatementClassOfStockAxis_us-gaap_CommonClassAMember_qOynT4lSmE6snTDBj9BRtw" name="dei:SecurityExchangeName" id="Tc_nphTRuz5O0qjlAhn6p3ROA_2_4">New York Stock Exchange</ix:nonNumeric></p></td></tr><tr><td style="vertical-align:top;width:44.74%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_us-gaap_StatementClassOfStockAxis_us-gaap_WarrantMember_w9RF7jjtXEar1Xy2hN5PNA" name="dei:Security12bTitle" id="Tc_YvZ0tZeV4kurisrpNT83Ng_3_0">Warrants</ix:nonNumeric></p></td><td style="vertical-align:top;width:2.16%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:14.06%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_2_2022_To_12_2_2022_us-gaap_StatementClassOfStockAxis_us-gaap_WarrantMember_w9RF7jjtXEar1Xy2hN5PNA" name="dei:TradingSymbol" id="Tc_E7Nm3fUE3kCYG4zRhGrRXw_3_2">SKIL.WS</ix:nonNumeric></p></td><td style="vertical-align:top;width:2.16%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:36.86%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric format="ixt-sec:exchnameen" contextRef="Duration_12_2_2022_To_12_2_2022_us-gaap_StatementClassOfStockAxis_us-gaap_WarrantMember_w9RF7jjtXEar1Xy2hN5PNA" name="dei:SecurityExchangeName" id="Tc_EjGejYhlqEe4Hd_lKtMU8A_3_4">New York Stock Exchange</ix:nonNumeric></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:12pt 0pt 12pt 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#xA7;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#xA7;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Emerging growth company <ix:nonNumeric format="ixt-sec:boolballotbox" contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:EntityEmergingGrowthCompany" id="Narr_KPYul4TcT0-rGPhAwcQeQw"><span style="font-family:'Segoe UI Symbol';">&#x2611;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <ix:nonNumeric format="ixt-sec:boolballotbox" contextRef="Duration_12_2_2022_To_12_2_2022_o_TG7WI3_E2u0N43G0KGEg" name="dei:EntityExTransitionPeriod" id="Narr_z87ytTKTSEmt3H5iXzQqag"><span style="font-family:'Segoe UI Symbol';">&#x2610;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p><p style="display:none;line-height:0pt;margin:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#x200B;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_4ece97bf_6350_4cf0_9618_e1acfb302651"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item 8.01 Other Events.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On August 15, 2022, Skillsoft Corp. (the &#x201C;Company&#x201D;) completed the previously announced disposition of 100% of its equity in Amber Holding Inc. (&#x201C;SumTotal&#x201D;) to Cornerstone OnDemand, Inc. (the &#x201C;Transaction&#x201D;). SumTotal was previously a reportable segment of the Company. As a result of the disposition of SumTotal, beginning in its Quarterly Report on Form 10-Q for the quarter ending July 31, 2022, the Company presented the operating results of SumTotal as discontinued operations in its condensed consolidated financial statements for all periods presented. In accordance with accounting principles generally accepted in the United States, the operating results of SumTotal must be retrospectively reclassified to discontinued operations for all prior periods subsequently presented. The Company is filing this Current Report on Form 8-K solely to update the presentation of certain financial information and related disclosures contained in the Company&#x2019;s Annual Report on Form 10-K for the year ended January 31, 2022 (the &#x201C;2022 Form 10-K&#x201D;) to reflect the exclusion of the financial operations of SumTotal from the Company&#x2019;s segment disclosure and to present the related operations of SumTotal as discontinued operations and its assets and liabilities presented as held for sale.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The operating results of SumTotal are reported as discontinued operations for all periods presented and the assets and liabilities being sold as part of the Transaction have been presented in the Company&#x2019;s consolidated financial statements as assets and liabilities held for sale for all periods presented.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Attached as Exhibit 99.1 to this Current Report on Form 8-K are the updated &#x201C;Item 1. Business&#x201D;, &#x201C;Item 7. Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations&#x201D; and &#x201C;Item 8. Financial Statements&#x201D;, respectively, from the 2022 Form 10-K, to reflect the revised segment presentation and the reclassification of the historical financial results of SumTotal as discontinued operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The information included in Exhibits 99.1 attached to this Current Report on Form 8-K is presented in connection with the reporting changes described above for the operating results of SumTotal. All other information in our 2022 Form 10-K has not been updated for events or developments that occurred subsequent to the filing of the 2022 Form 10-K, as the case may be, with the U.S. Securities and Exchange Commission (the &#x201C;SEC&#x201D;). For developments since the filing of the 2022 Form 10-K, as the case may be, please refer to the Company's subsequent Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. The information in this Form 8-K, including the exhibits, should be read in conjunction with the 2022 Form 10-K and subsequent SEC filings.</p><a id="_42b0a9cd_d777_41ff_95a0_9fdd79ef9ae9"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:72pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Item&#xA0;9.01</b></span>Financial Statements and Exhibits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">(d)</span></span>Exhibits.</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:83.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:14.31%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Exhibit No.</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.06%;border-bottom:1px solid transparent;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">&#xA0;&#xA0;&#xA0;&#xA0;</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:83.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Description</b></p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">23</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="skil-20221202xex23.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Consent of Ernst &amp; Young LLP, independent registered public accounting firm.</span></a></p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">99.1</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="skil-20221202xex99d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">2022 Form 10-K: Item 1. Business, Item 7. Management&#x2019;s Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements.</span></a></p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Exhibit 101.INS</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Exhibit 101.SCH</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">XBRL Taxonomy Extension Schema Document</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Exhibit 101.CAL</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">XBRL Taxonomy Extension Calculation Linkbase Document</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Exhibit 101.DEF</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">XBRL Taxonomy Extension Definition Linkbase Document</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Exhibit 101.LAB</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">XBRL Taxonomy Extension Labels Linkbase Document</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Exhibit 101.PRE</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">XBRL Taxonomy Extension Presentation Linkbase Document</p></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:14.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">104</p></td><td style="vertical-align:top;white-space:nowrap;width:2.06%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:83.62%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document).</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:12pt 0pt 12pt 0pt;">Forward Looking Statements</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">This Current Report on Form 8-K, including its exhibits, includes statements that are, or may be deemed to be, &#x201C;forward-looking statements&#x201D; within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as our outlook (including bookings, revenue and adjusted EBITDA), our product development and planning, our pipeline, future capital expenditures, share repurchases, financial results, the impact of regulatory changes, existing and evolving business strategies and acquisitions and dispositions, </p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">demand for our services and competitive strengths, goals, the benefits of new initiatives, growth of our business and operations, and our ability to successfully implement our plans, strategies, objectives, expectations and intentions are forward-looking statements. Also, when we use words such as &#x201C;may,&#x201D; &#x201C;will,&#x201D; &#x201C;would,&#x201D; &#x201C;anticipate,&#x201D; &#x201C;believe,&#x201D; &#x201C;estimate,&#x201D; &#x201C;expect,&#x201D; &#x201C;intend,&#x201D; &#x201C;plan,&#x201D; &#x201C;project,&#x201D; &#x201C;forecast,&#x201D; &#x201C;seek,&#x201D; &#x201C;outlook,&#x201D; &#x201C;target,&#x201D; &#x201C;goal,&#x201D; &#x201C;probably,&#x201D; or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of the Company&#x2019;s management and are subject to significant risks and uncertainties. All forward-looking disclosure is speculative by its nature.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained in this document, including:</p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to realize the benefits expected from the business combination between the Company, Churchill Capital Corp. II, and Global Knowledge, and other recent transactions, including our acquisitions of Pluma and Codecademy, and disposition of SumTotal;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">the impact of U.S. and worldwide economic trends, financial market conditions, geopolitical events, natural disasters, climate change, public health crises, the ongoing COVID-19 pandemic (including any variant), political crises, or other catastrophic events on our business, liquidity, financial condition and results of operations;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to attract and retain key employees and qualified technical and sales personnel;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our reliance on third parties to provide us with learning content, subject matter expertise, and content productions and the impact on our business if our relationships with these third parties are terminated;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">fluctuations in our future operating results;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to successfully identify, consummate, and achieve strategic objectives in connection with our acquisition opportunities and realize the benefits expected from the acquisition;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">the demand for, and acceptance of, our products and for cloud-based technology learning solutions in general;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to compete successfully in competitive markets and changes in the competitive environment in our industry and the markets in which we operate;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to market existing products and develop new products;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">a failure of our information technology infrastructure or any significant breach of security, including in relation to the migration of our key platforms from our systems to cloud storage;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">future regulatory, judicial, and legislative changes in our industry;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to comply with laws and regulations applicable to our business, including shifting global privacy, data protection, and cyber and information security laws and regulations, as well as state privacy and data protection laws;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">a failure to achieve and maintain effective internal control over financial reporting;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">fluctuations in foreign currency exchange rates;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to protect or obtain intellectual property rights;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to raise additional capital;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">the impact of our indebtedness on our financial position and operating flexibility;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to meet future liquidity requirements and comply with restrictive covenants related to long-term indebtedness;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to implement our share repurchase program successfully;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to successfully defend ourselves in legal proceedings; and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#x2022;</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">our ability to continue to meet applicable listing standards.</span></td></tr></table><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The foregoing list of factors is not exhaustive and new factors may emerge from time to time that could also affect actual performance and results. For more information, please see the risk factors included in our Form 10-K filed with the SEC for the fiscal year ended January 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved. Annualized, pro forma, projected, and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. &#xA0;Additionally, statements as to market share, industry data, and our market position are based on the most currently available data available to us and our estimates regarding market position or other industry data included </p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">in this document or otherwise discussed by us involve risks and uncertainties and are subject to change based on various factors, including as set forth above.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Our forward-looking statements speak only as of the date made and we do not undertake to update these forward-looking statements unless required by applicable law. With regard to these risks, uncertainties, and assumptions, the forward-looking events discussed in this document may not occur, and we caution you against unduly relying on these forward-looking statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_acaf6a8b_6315_47bb_a2a5_b6a8417bdbe1"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">SIGNATURE</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:49.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p></div></div></td><td style="vertical-align:top;width:3.49%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p></div></div></td><td style="vertical-align:top;width:46.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p></div></div></td></tr><tr><td style="vertical-align:top;width:49.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Dated: December 2, 2022</p></td><td colspan="2" style="vertical-align:top;width:50.24%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">SKILLSOFT CORP.</p></td></tr><tr><td style="vertical-align:top;width:49.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td colspan="2" style="vertical-align:top;width:50.24%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td></tr><tr><td style="vertical-align:top;width:49.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:3.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:&#xA0;</p></td><td style="vertical-align:top;width:46.75%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Richard Walker</p></td></tr><tr><td style="vertical-align:top;width:49.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:3.49%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></td><td style="vertical-align:top;width:46.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Richard Walker<br />Chief Financial Officer</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#x200B;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#x200B;</span></p></div></div>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 2, 2022
Skillsoft Corp.
(Exact name of registrant as specified in its charter)
Delaware
001-38960
83-4388331
(State or other jurisdiction
of incorporation)
(Commission File
Number)
(I.R.S. Employer
Identification No.)
​
300 Innovative Way
,
Suite 201
Nashua
,
NH
03062
(Address of principal executive offices)
(Zip Code)
(
603
)
324-3000
Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Class A common stock, $0.0001 par value per share
SKIL
New York Stock Exchange
Warrants
SKIL.WS
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
Item 8.01 Other Events.
On August 15, 2022, Skillsoft Corp. (the "Company") completed the previously announced disposition of 100% of its equity in Amber Holding Inc. ("SumTotal") to Cornerstone OnDemand, Inc. (the "Transaction"). SumTotal was previously a reportable segment of the Company. As a result of the disposition of SumTotal, beginning in its Quarterly Report on Form 10-Q for the quarter ending July 31, 2022, the Company presented the operating results of SumTotal as discontinued operations in its condensed consolidated financial statements for all periods presented. In accordance with accounting principles generally accepted in the United States, the operating results of SumTotal must be retrospectively reclassified to discontinued operations for all prior periods subsequently presented. The Company is filing this Current Report on Form 8-K solely to update the presentation of certain financial information and related disclosures contained in the Company's Annual Report on Form 10-K for the year ended January 31, 2022 (the "2022 Form 10-K") to reflect the exclusion of the financial operations of SumTotal from the Company's segment disclosure and to present the related operations of SumTotal as discontinued operations and its assets and liabilities presented as held for sale.
The operating results of SumTotal are reported as discontinued operations for all periods presented and the assets and liabilities being sold as part of the Transaction have been presented in the Company's consolidated financial statements as assets and liabilities held for sale for all periods presented.
Attached as Exhibit 99.1 to this Current Report on Form 8-K are the updated "Item 1. Business", "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Item 8. Financial Statements", respectively, from the 2022 Form 10-K, to reflect the revised segment presentation and the reclassification of the historical financial results of SumTotal as discontinued operations.
The information included in Exhibits 99.1 attached to this Current Report on Form 8-K is presented in connection with the reporting changes described above for the operating results of SumTotal. All other information in our 2022 Form 10-K has not been updated for events or developments that occurred subsequent to the filing of the 2022 Form 10-K, as the case may be, with the U.S. Securities and Exchange Commission (the "SEC"). For developments since the filing of the 2022 Form 10-K, as the case may be, please refer to the Company's subsequent Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. The information in this Form 8-K, including the exhibits, should be read in conjunction with the 2022 Form 10-K and subsequent SEC filings.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits.
​
​
​
Exhibit No.
Description
23
​
Consent of Ernst & Young LLP, independent registered public accounting firm.
99.1
​
2022 Form 10-K: Item 1. Business, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements.
Exhibit 101.INS
​
XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document.
Exhibit 101.SCH
​
XBRL Taxonomy Extension Schema Document
Exhibit 101.CAL
​
XBRL Taxonomy Extension Calculation Linkbase Document
Exhibit 101.DEF
​
XBRL Taxonomy Extension Definition Linkbase Document
Exhibit 101.LAB
​
XBRL Taxonomy Extension Labels Linkbase Document
Exhibit 101.PRE
​
XBRL Taxonomy Extension Presentation Linkbase Document
104
​
Cover Page Interactive Data File (embedded within the Inline XBRL document).
Forward Looking Statements
This Current Report on Form 8-K, including its exhibits, includes statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created by those laws. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as our outlook (including bookings, revenue and adjusted EBITDA), our product development and planning, our pipeline, future capital expenditures, share repurchases, financial results, the impact of regulatory changes, existing and evolving business strategies and acquisitions and dispositions,
demand for our services and competitive strengths, goals, the benefits of new initiatives, growth of our business and operations, and our ability to successfully implement our plans, strategies, objectives, expectations and intentions are forward-looking statements. Also, when we use words such as "may," "will," "would," "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "forecast," "seek," "outlook," "target," "goal," "probably," or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. All forward-looking disclosure is speculative by its nature.
There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained in this document, including:
•
our ability to realize the benefits expected from the business combination between the Company, Churchill Capital Corp. II, and Global Knowledge, and other recent transactions, including our acquisitions of Pluma and Codecademy, and disposition of SumTotal;
•
the impact of U.S. and worldwide economic trends, financial market conditions, geopolitical events, natural disasters, climate change, public health crises, the ongoing COVID-19 pandemic (including any variant), political crises, or other catastrophic events on our business, liquidity, financial condition and results of operations;
•
our ability to attract and retain key employees and qualified technical and sales personnel;
•
our reliance on third parties to provide us with learning content, subject matter expertise, and content productions and the impact on our business if our relationships with these third parties are terminated;
•
fluctuations in our future operating results;
•
our ability to successfully identify, consummate, and achieve strategic objectives in connection with our acquisition opportunities and realize the benefits expected from the acquisition;
•
the demand for, and acceptance of, our products and for cloud-based technology learning solutions in general;
•
our ability to compete successfully in competitive markets and changes in the competitive environment in our industry and the markets in which we operate;
•
our ability to market existing products and develop new products;
•
a failure of our information technology infrastructure or any significant breach of security, including in relation to the migration of our key platforms from our systems to cloud storage;
•
future regulatory, judicial, and legislative changes in our industry;
•
our ability to comply with laws and regulations applicable to our business, including shifting global privacy, data protection, and cyber and information security laws and regulations, as well as state privacy and data protection laws;
•
a failure to achieve and maintain effective internal control over financial reporting;
•
fluctuations in foreign currency exchange rates;
•
our ability to protect or obtain intellectual property rights;
•
our ability to raise additional capital;
•
the impact of our indebtedness on our financial position and operating flexibility;
•
our ability to meet future liquidity requirements and comply with restrictive covenants related to long-term indebtedness;
•
our ability to implement our share repurchase program successfully;
•
our ability to successfully defend ourselves in legal proceedings; and
•
our ability to continue to meet applicable listing standards.
The foregoing list of factors is not exhaustive and new factors may emerge from time to time that could also affect actual performance and results. For more information, please see the risk factors included in our Form 10-K filed with the SEC for the fiscal year ended January 31, 2022.
Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved. Annualized, pro forma, projected, and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.  Additionally, statements as to market share, industry data, and our market position are based on the most currently available data available to us and our estimates regarding market position or other industry data included
in this document or otherwise discussed by us involve risks and uncertainties and are subject to change based on various factors, including as set forth above.
Our forward-looking statements speak only as of the date made and we do not undertake to update these forward-looking statements unless required by applicable law. With regard to these risks, uncertainties, and assumptions, the forward-looking events discussed in this document may not occur, and we caution you against unduly relying on these forward-looking statements.
​
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
​
​
​
Dated: December 2, 2022
SKILLSOFT CORP.
​
​
​
By:
/s/ Richard Walker
​
​
Richard Walker
Chief Financial Officer
​
​
​