Chegg (CHGG) Announces $150M Accelerated Share Buyback
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Chegg Announces New $150 Million Accelerated Share Repurchase
November 15, 2023 6:45 AM ESTSANTA 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 Morgan Stanley Bank, National Association, to repurchase $150 million of Cheggs common stock.
Under the ASR, Chegg will make an initial payment of $150 million to Morgan Stanley Bank, National Association, and will receive an initial delivery of approximately 13.5 million shares of its common stock by November 15, 2023. The final number of shares to be repurchased will be based on the volume-weighted average... More
