Chegg, Inc. announced on November 25, 2024, that it has entered into privately negotiated agreements to repurchase approximately $116.6 million in aggregate principal amount of its outstanding 0% Convertible Senior Notes due 2026.
The repurchase was executed for an aggregate cash price of approximately $96.2 million, representing a discount to the principal amount. This transaction is part of Chegg’s previously announced securities repurchase program.
Following the completion of these note repurchase transactions, approximately $127.9 million aggregate principal amount of the 2026 Notes will remain outstanding. The company will also have approximately $207.5 million remaining under its securities repurchase program.
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