Chegg Announces New $150 Million Accelerated Share Repurchase – Business Wire
SANTA CLARA, Calif.–(BUSINESS WIRE)–Chegg, Inc. (NYSE:CHGG), the leading student-first connected learning platform, today announced that it has entered into an accelerated share repurchase agreement (“ASR”) with J.P. Morgan Chase Bank, National Association to repurchase $150 million of Chegg’s common stock.
“We are excited about the opportunities before us and believe Chegg is best positioned to leverage advancements in technology along with our proprietary content, data, and expertise to help shape the rapidly evolving education landscape”
Under the ASR, Chegg will make an initial payment of $150 million to J.P. Morgan Chase Bank, National Association, and will receive an initial delivery of approximately 7.6 million shares of its common stock by February 24, 2023. The final number of shares to be repurchased will be based on the volume-weighted average price of Chegg’s common stock during the term of the ASR, less a discount. The final settlement of the ASR is…
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source: https://news.oneseocompany.com/2023/02/24/chegg-announces-new-150-million-accelerated-share-repurchase-business-wire_2023022441114.html
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