filecrux
$LRN Stride, an online K-12 school operator, settled with holder Fivespan, which dropped its board nominations, a stockholder proposal and a books-and-records demand for two board seats. Fivespan founder Dylan Haggart will co-chair a new Capital Allocation Committee with director Brian Shepherd once it takes effect on Oct 30. Stride held $1,034.1M cash and securities vs $418.0M long-term debt at June 30; cash is ~31% of its ~$3.3B market value at the Oct 7 close of $79.755. Fivespan accepts a standstill; a target capital structure is due in ~3 months.
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