<SEC-DOCUMENT>0001104659-22-106478.txt : 20221220
<SEC-HEADER>0001104659-22-106478.hdr.sgml : 20221220
<ACCEPTANCE-DATETIME>20221006060518
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-22-106478
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20221006

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Skillsoft Corp.
		CENTRAL INDEX KEY:			0001774675
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				834388331
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		640 FIFTH AVENUE, 12TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 380-7500

	MAIL ADDRESS:	
		STREET 1:		640 FIFTH AVENUE, 12TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Churchill Capital Corp II
		DATE OF NAME CHANGE:	20190502

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Hornblower Acquisition Corp
		DATE OF NAME CHANGE:	20190423
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<P STYLE="margin: 0">&nbsp;</P>

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    <TD STYLE="padding: 0; width: 50%; font-size: 10pt; text-indent: 0">767 Fifth Avenue<BR>
New York, NY 10153<BR>
+1 212 310 8000 tel<BR>
+1 212 310 8007 fax</TD>
    <TD STYLE="padding: 0; width: 50%; text-align: right; font-size: 10pt; text-indent: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 20px; width: 229px"></TD></TR>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">October 6, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>VIA EDGAR</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission<BR>
Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Technology<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Morgan Youngwood / Stephen Krikorian</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="padding: 0 0 0 0.25in; width: 10%; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Re:&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="padding: 0; width: 90%; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Skillsoft Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Form 10-K for the Fiscal Year Ended January 31, 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Form 10-Q for the Quarterly Period Ended July 31, 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Form 8-K Filed September 7, 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Form 8-K Filed August 15, 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>File No. 001-38960</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On behalf of Skillsoft Corp.
(the &ldquo;<U>Company</U>&rdquo;), we are writing to respond to the comments set forth in the comment letter of the staff of the Securities
and Exchange Commission (the &ldquo;<U>Staff</U>&rdquo;) dated September 22, 2022 (the &ldquo;<U>Comment Letter</U>&rdquo;) relating to
the above-referenced filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To assist your review, set
forth below in bold are the comments of the Staff contained in the Comment Letter and immediately below each comment is the response of
the Company with respect thereto or a statement identifying the location in the applicable filing of the requested disclosure or revised
disclosure. Capitalized terms used but not defined herein have the meanings ascribed in the respective filings to which they relate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Form 10-K for the fiscal year ended January 31, 2022</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Results of Operations, page 39</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>We note you appear to combine Successor and Predecessor financial statements in your non-GAAP presentation. Tell us why you believe
combining these financial statements is appropriate, referring to your basis in accounting literature. Please refer to Question 102.10
of the Non-GAAP Financial Measures Codification and Disclosure Interpretation.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company respectfully acknowledges the Staff&rsquo;s comment
and that GAAP requires predecessor and successor periods to be presented separately. However, in considering how to present and analyze
the Company&rsquo;s results of operations, we aimed to apply an approach that would be easily understandable by readers and consistent
with the methodology used by management to evaluate the Company&rsquo;s results and identify business trends. Accordingly, in addition
to presenting our results of operations as reported in our Consolidated Financial Statements in accordance with GAAP, the tables and discussion
included in MD&amp;A also present the combined predecessor GAAP results and successor GAAP results for the fiscal years ended January
31, 2022 and 2021. We recognize that the accounting literature and Question 102.10 require GAAP to be more prominent than non-GAAP but
submit that the two columns to the left of our non-GAAP presentation, which present the predecessor and successor periods are the only
way to present GAAP results more prominently. The Company believes that for purposes of MD&amp;A, viewing results by also providing the
non-GAAP combination of the operating results of the applicable Predecessor and Successor periods on a supplemental basis allows for comparability
to prior periods and adds meaningful disclosure to readers. Management believes that key measures such as revenue and operating expenses
for the Successor periods when combined with the Predecessor periods are useful in identifying current business trends, benchmarking our
results and reaching conclusions regarding our overall economic performance. The only additional GAAP information the Company could provide
would be to compare operating results for periods of differing lengths, which we believe would be confusing to readers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company confirms that it will not include the combined
results presentation for any filings subsequent to the Annual Report on Form 10-K for the year ended January 31, 2023, because the combined
results will no longer be required for purposes of providing a basis of comparison to a prior period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Form 10-Q for the quarterly period ended July 31, 2022</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Liquidity and Capital Resources, page 54</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>We note that you elected to not separately disclose the cash flows related to your discontinued operation for each period presented.
Please tell us what consideration you gave to describing cash flows from operating, investing and financing activities associated with
your discontinued operations separately from continuing operations in your &ldquo;Liquidity and Capital Resources&rdquo; disclosures,
as such information is not apparent from your cash flow statement. Additionally, please describe how your liquidity is likely to be affected
by the absence of cash flows (or negative cash flows) associated with your discontinued operations.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">For the Company&rsquo;s Form 10-Q for the Quarterly Period
Ended October 31, 2022, management will describe cash flows from operating, investing and financing activities associated with discontinued
operations separately from continuing operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Form 8-K filed on September 7, 2022</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Exhibit 99.1, page 11</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>We note your reconciliations of non-GAAP Financial Measures. Please note that the presentation of a full non-GAAP income statement
may place undue prominence to the non-GAAP information and may give the impression that the non-GAAP income statement represents a comprehensive
basis of accounting. Please confirm to us that you will not present non-GAAP consolidated income statements in future filings. Please
refer to Question 102.10 of the Non-GAAP Financial Measures Codification and Disclosure Interpretation.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company will not present non-GAAP income statements in
all prospective filings and will include only a non-GAAP reconciliation for Adjusted EBITDA derived from GAAP net income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD><B>We note that adjustment (1) non-GAAP revenue adjustments include the add back of reseller fees, which are presented on a net basis
in GAAP revenue. Please tell us why you believe this adjustment is appropriate, referring to your basis in accounting literature. We refer
you to the guidance in Rule 100(b) of Regulation G and Question 100.04 of the Non- GAAP Financial Measures Codification and Disclosure
Interpretation.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company will remove the non-GAAP revenue adjustments
for the add back of reseller fees in all prospective filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD><B>Please clarify and disaggregate items included in the adjustments labeled &ldquo;Recapitalization and acquisition-related costs&rdquo;
and &ldquo;Non-recurring costs and other.&rdquo; For each adjustment, explain whether they represent normal, recurring, cash operating
expenses necessary to operate your business. We refer you to Rule 100(b) of Regulation G and Question 100.01 of the Non-GAAP Financial
Measures Codification and Disclosure Interpretation.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company has considered a number of different factors
in determining that the costs related to the referenced adjustments do not represent normal, recurring, cash operating expenses necessary
for our core operations and, therefore, are appropriate adjustments not inconsistent with Item 10(e)(ii)(B) of Regulation S-K and Question
100.01 of the Commission&rsquo;s Non-GAAP Compliance and Disclosure Interpretations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company and its predecessors have had considerable transaction
activity over the last two years, including (i) the emergence from Chapter 11 on August 28, 2020, (ii) the acquisition by Churchill Capital
on June 11, 2021, (iii) the acquisition of Global Knowledge on June 11, 2021, (iv) the acquisition of Pluma, Inc. on June 30, 2021, (v)
the acquisition of Ryzac, Inc. (d/b/a Codecademy) on April 4, 2022, (vi) the sale of SumTotal on August 15, 2022 and (vii) debt refinancing
related to the aforementioned transactions. Each of these transactions included considerable levels of discrete, deal-specific third-party
costs attributable to investment banking, legal, accounting, tax and other advisory fees that are not of a recurring nature and we do
not believe further disaggregation of these amounts would be meaningful to financial statement users. In addition, to the extent we cease
transaction-related activity, all related costs would similarly cease. Each acquisition or significant transaction is a distinct event
rather than being part of an ongoing, inter-related sequence of transactions with related costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Although the pursuit of acquisitions of businesses or technologies
is a part of the Company&rsquo;s growth strategy, core operations are not dependent on such acquisitions. In some periods, we may have
more acquisition activity, while in other periods activity levels could decrease significantly. Historical amounts are therefore not predictive
of future periods and make it difficult to analyze the Company&rsquo;s operating results without normalization. While we have had significant
transaction activity in the past two years, the frequency, timing, amount, scope and scale of each is unique and highly variable from
year to year. Given the non-operational nature of, and variability in, these events and the related costs, we believe adjusting for these
amounts provides useful supplemental information to investors that facilitates an analysis of the underlying trends in our financial results
based on our ongoing cash operating expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD><B>We note that adjustment (3) non-GAAP revenue adjustment includes one month of proforma Codecademy revenue to allow better comparison
against the three months ended April 30, 2022. Please tell us why you believe this adjustment is appropriate, referring to your basis
in accounting literature.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company will not present the non-GAAP revenue adjustment
for Codecademy in all prospective filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD><B>We note your presentation of Adjusted EBITDA margin % for each period presented. Please reconcile this non-GAAP measure to the
most directly comparable GAAP measure in accordance with Item 10(e)(1)(i)(B) of Regulation S-K.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company will present a reconciliation from GAAP operating
margin % to Adjusted EBITDA margin % in all prospective filings where Adjusted EBITDA margin is presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Form 8-K filed on August 15, 2022</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Item 2.01. Completion of Acquisition or Disposition of Assets.,
page 1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>8.</B></TD><TD><B>We note that on August 15, 2022, pursuant to that certain Stock Purchase Agreement (the &ldquo;Purchase Agreement&rdquo;), by and
among Skillsoft Corp., a Delaware corporation (&ldquo;Skillsoft&rdquo;), Skillsoft (US) Corporation, a Delaware corporation (&ldquo;Seller&rdquo;),
Amber Holding Inc., a Delaware corporation (the &ldquo;Company&rdquo;), and Cornerstone OnDemand, Inc., a Delaware corporation (&ldquo;Buyer&rdquo;),
Skillsoft completed the previously announced sale of one hundred percent (100%) of the outstanding shares of capital stock of the Company
to Buyer (the &ldquo;Transaction&rdquo;). Please explain why you did not provide pro forma financial information prepared in accordance
with Article 11 for your most recently completed fiscal year and subsequent interim period. We refer you to Item 9.01 of the General Instructions
to Form 8-K.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company respectfully acknowledges the requirement under
Item 9.01 of Form 8-K to provide pro-forma financial information for significant dispositions of assets. The Company had considered whether
it was required to provide pro forma financial information prepared in accordance with Article 11 of Regulation S-X by evaluating the
three significance tests specified in Rule 3-05 of Regulation S-X. The Company noted that the asset and income tests were 9% and 18% respectively,
beneath the 20% significance threshold. For the investment test, the Company calculated a significance of 19% based on (i) net sale proceeds
of $177 million, which is the fair value of the consideration transferred, and (ii) a worldwide market value of $925 million. The worldwide
market value was calculated by multiplying the aggregate number of shares of the Company&rsquo;s outstanding common stock by the average
of the bid and asked prices of the common stock on the New York Stock Exchange for the last five trading days of May 2022, which represented
the month prior to the announcement of the transaction on June 12, 2022 (which was earlier than the consummation of the transaction on
August 15, 2022).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the Staff has any questions concerning this response letter or requires
further information, please do not hesitate to contact the undersigned at 202-682-7208.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ P.J. Himelfarb</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">Cc:</TD><TD STYLE="text-align: justify">Sarah Kinnick Hilty, Skillsoft Corp.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"></TD><TD STYLE="text-align: justify">Gary W. Ferrera, Skillsoft Corp.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"></TD><TD STYLE="text-align: justify">Sarah A. Mussetter, Skillsoft Corp.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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