The facts block is sourced from a single SEC filing: an 8-K filed with SEC EDGAR and published on June 21, 2024. The deal's current status is pending regulatory approval.
On the financial advisory side, CDX Advisors acted as exclusive financial advisor to Scholastic, the acquirer, and is designated as lead advisor. Barclays acted as exclusive financial advisor to 9 Story, the target, and is likewise designated as lead advisor.
Legal counsel on this deal was disclosed extensively, and notably references a seller entity called "ZMC" alongside 9 Story. On the target side, Goodmans LLP served as 9 Story's legal counsel while Sidley Austin LLP served as ZMC's legal counsel. On the acquirer side, three firms, Baker & McKenzie LLP, Dentons Canada LLP, and Mason Hayes & Curran LLP, served as Scholastic's legal counsel in the transaction.
Beyond its characterization as a minority/majority equity investment and the closing of a previously announced deal, the facts block does not disclose the specific percentage stake being acquired or other structural terms.
Several facts are not disclosed in the source material. The facts block does not specify the exact equity percentage being acquired by Scholastic, despite the "minority/majority" framing, nor does it clarify the relationship between 9 Story and the "ZMC" entity referenced in the legal advisor disclosures. No expected closing date beyond the fact that this filing reflects the closing itself is given, and no further detail on deal mechanics is disclosed.