Chegg Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Chegg, Inc. (NYSE: CHGG), a Smarter Way to Student, today announced the closing of its public offering of 11,274,600 shares of its common stock at a public offering price of $102.00 per share, which includes the exercise in full of the underwriters option to purchase an additional 1,470,600 shares of its common stock.
- Chegg, Inc. (NYSE: CHGG), a Smarter Way to Student, today announced the closing of its public offering of 11,274,600 shares of its common stock at a public offering price of $102.00 per share, which includes the exercise in full of the underwriters option to purchase an additional 1,470,600 shares of its common stock.
- Chegg sold 10,974,600 shares of its common stock in the offering and Dan Rosensweig, our President, Chief Executive Officer and Co-Chairperson of the Board, who is the selling stockholder, sold 300,000 shares of common stock in the offering.
- Chegg did not receive any proceeds from the sale of the shares by the selling stockholder.
- Morgan Stanley, Goldman Sachs & Co. LLC and Allen & Company LLC acted as joint book-running managers for the offering.