Nerdy Inc. — Major Shareholding Notification 2023

Feb 14, 2023

SC 13G/A 1 p23-0186sc13ga.htm NERDY INC.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Nerdy Inc.
(Name of Issuer)
Class A Common Stock,
$0.0001 par value
(Title of Class of Securities)
64081V109
(CUSIP Number)
December 31, 2022
(Date of Event Which Requires Filing of This Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
x	Rule 13d-1(b)
¨	Rule 13d-1(c)
¨	Rule 13d-1(d)
(Page 1 of 6 Pages)

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*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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CUSIP No. 64081V109 13G/A Page 2 of 6 Pages

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1	NAME OF REPORTING PERSON Greenvale Capital LLP
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ¨ (b) ¨
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION United Kingdom
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5	SOLE VOTING POWER 8,035,800
	6	SHARED VOTING POWER 0
	7	SOLE DISPOSITIVE POWER 8,035,800
	8	SHARED DISPOSITIVE POWER 0
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,035,800
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	¨
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.6%
12	TYPE OF REPORTING PERSON PN, FI

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CUSIP No. 64081V109 13G/A Page 3 of 6 Pages

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Item 1(a).
The name of the issuer is Nerdy Inc. (the "Company").

Item 1(b).
The Company's principal executive offices are located at 101 S. Hanley Rd., Suite 300, St. Louis, Missouri 63105.

Item 2(a).
This filing is made by Greenvale Capital LLP , an English limited liability partnership ("Greenvale"), with respect to the Shares (as defined in Item 2(d) below) held by certain funds and accounts to which it serves as the investment manager.
Bruce Emery, a citizen of the United Kingdom and the United States, indirectly controls Greenvale.
Greenvale is sometimes referred to as the "Reporting Person."
The filing of this statement should not be construed as an admission that any of the foregoing persons or the Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.

Item 2(b).
1 st Floor, 1 Vere Street, London W1G 0DF, United Kingdom.

Item 2(c).
Greenvale is an English limited liability partnership .

Item 2(d).
Class A common stock, $0.0001 par value (the "Shares").

Item 2(e).
64081V109

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

(a)	¨	Broker or dealer registered under Section 15 of the Act;
(b)	¨	Bank as defined in Section 3(a)(6) of the Act;
(c)	¨	Insurance company as defined in Section 3(a)(19) of the Act;
(d)	¨	Investment company registered under Section 8 of the Investment Company Act of 1940;

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CUSIP No. 64081V109 13G/A Page 4 of 6 Pages

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(e)	¨	Investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f)	¨	An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F);
(g)	¨	A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G);
(h)	¨	A savings association as defined in Section 3(b) of the Federal Deposit
Insurance Act;
(i)	¨	A church plan that is excluded from the definition of an investment company
under Section 3(c)(14) of the Investment Company Act;
(j)	x	A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);
(k)	¨	Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: Greenvale is an investment manager, authorized and regulated by the Financial Conduct Authority in the United Kingdom which is comparable to the regulatory scheme applicable to the investment advisers covered by Item 3(e) above.

Item 4.
The percentages used herein are calculated based upon 93,241,837 Shares reported to be outstanding as of November 7, 2022 in the quarterly report on Form 10-Q filed by the Company with the Securities and Exchange Commission on November 14, 2022.
The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page of the Reporting Person and is incorporated herein by reference.

Item 5.
If this statement is being filed to report the fact that as of the date hereof the Reporting Person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ¨

Item 6.
See Item 2.

Item 7.
Not applicable.

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CUSIP No. 64081V109 13G/A Page 5 of 6 Pages

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Item 8.
Not applicable.

Item 9.
Not applicable.

ITEM 10. CERTIFICATION

The Reporting Persons hereby makes the following certification:

By signing below the Reporting Person certifies that, to the best of its knowledge and belief, (i) the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect and (ii) the foreign regulatory scheme applicable to Greenvale is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institutions. The Reporting Person also undertakes to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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SIGNATURES

After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

DATE: February 14, 2023

GREENVALE CAPITAL LLP
/s/ Andrew Wall
Name: Andrew Wall
Title: Chief Operating Officer