Mint Explainer: Why a rare exit penalty adds weight to upGrad’s Unacademy bid

“We at upGrad have signed a term sheet to acquire Unacademy in an all-stock transaction,” Screwvala said in his post on Gaurav Munjal, founder and CEO of Unacademy, said in a separate post that the transaction will be done through 100% share swap and the valuation will be disclosed only at closing, after documents are submitted.