IBL News | New York
Skillsoft (NYSE: SKIL) debuted yesterday trading in the market with a drop of 1.4%, closing at $10.60 per share.
The stock opened at $10.90, and it reached low pricing of $10.50. Market capitalization closed at $914 million.
The company is owned by a SPAC (special purpose acquisition company) called Churchill Capital Corp II, which also purchased the training company Global Knowledge.
In a press statement, Boston-based Skillsoft highlighted that “it operates with an attractive business model, characterized by recurring revenue, strong free cash flow conversion, high operating leverage and low capital requirements.”
Jeffery R. Tarr, the company’s CEO, said that “together with Global Knowledge, we will serve our customers with unmatched learning technologies and the industry’s most comprehensive suite of premium and original content.”
Mr. Tarr [in the picture above] discussed Skillsoft’s plans for growth in an interview with Yahoo Finance.
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