Pluralsight recapitalization

Davis Polk advised the administrative agent and group of first-lien lenders in connection with a comprehensive out-of-court recapitalization of Pluralsight, Inc. and its affiliates (collectively, “Pluralsight”).

In August 2024, Pluralsight consummated a comprehensive recapitalization transaction that was supported by all existing lenders and its sponsor. The transaction significantly reduced Pluralsight’s funded debt by approximately $1.2 billion. The lender group also provided additional capital to Pluralsight in the form of a $225 million delayed draw term loan facility and a $50 million revolving credit facility.

Pluralsight provides the only learning platform dedicated to accelerating the technology skills and capabilities of today’s tech workforce. Thousands of companies, government organizations and individuals around the world rely on Pluralsight to support critical technology skill development in areas that are crucial to innovation. These include artificial intelligence, cloud computing, cybersecurity, software development and machine learning. Pluralsight provides highly curated content developed by vetted technology experts, industry leading skill assessments and hands-on, immersive learning experiences designed to help individuals skill-up faster.

The Davis Polk restructuring team included partners Brian M. Resnick and Natasha Tsiouris and associates Amber Leary and Kyle Kreider. The finance team included partner David Hahn, counsel Andrei Takhteyev and associate Kendra L. Sandidge. The corporate team included partner Evan Rosen and associate Andrew R. Board. Partner Corey M. Goodman and associate Bradford Sherman provided tax advice. All members of the Davis Polk team are based in the New York office.