{"id":790454,"date":"2024-11-25T09:18:23","date_gmt":"2024-11-25T14:18:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\/"},"modified":"2024-11-25T09:18:23","modified_gmt":"2024-11-25T14:18:23","slug":"chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\/","title":{"rendered":"Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nChegg Announces Repurchase of 0% Convertible Senior Notes Due 2026<\/p>\n<p>SANTA CLARA, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nChegg, Inc. (NYSE:CHGG), a leading student-first connected learning platform, today announced that it has entered into individual, privately negotiated repurchase agreements with certain holders of its outstanding 0% Convertible Senior Notes due 2026 (the \u201cNotes\u201d) to repurchase approximately $116.6 million in aggregate principal amount of the Notes for an aggregate cash repurchase price of approximately $96.2 million (the \u201cnote repurchase transactions\u201d). The note repurchase transactions were entered into in connection with Chegg\u2019s previously announced securities repurchase program and are expected to close on December 3, 2024, subject to the satisfaction of customary closing conditions. Following the closing, approximately $127.9 million aggregate principal amount of the Notes will remain outstanding and approximately $207.5 million will remain available under Chegg\u2019s securities repurchase program.<\/p>\n<p>\nThis press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.<\/p>\n<p><b>About Chegg<\/b><\/p>\n<p>\nChegg provides individualized learning support to students as they pursue their educational journeys. Available on demand 24\/7 and powered by over a decade of learning insights, the Chegg platform offers students AI-powered academic support thoughtfully designed for education coupled with access to a vast network of subject matter experts who ensure quality. No matter the goal, level, or style, Chegg helps millions of students around the world learn with confidence by helping them build essential academic, life, and job skills to achieve success. Chegg is a publicly held company and trades on the NYSE under the symbol CHGG. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.chegg.com&amp;esheet=54157467&amp;newsitemid=20241125687867&amp;lan=en-US&amp;anchor=www.chegg.com&amp;index=1&amp;md5=4470e59cbef0e423e41f62fd155e2311\">www.chegg.com<\/a>.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains \u201cforward-looking\u201d statements that are based on our beliefs and assumptions and on information currently available to us on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, regarding the amount of the Notes to be repurchased, the amount of the Notes to remain outstanding following completion of the note repurchase transactions, the amount to remain under our securities repurchase program following completion of the note repurchase transactions, the ability to complete the note repurchase transactions on the timeline described herein or at all and the final aggregate cash repurchase price for the note repurchase transactions. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are: changes in the price of the common stock and changes in the convertible note and other capital markets. All information provided in this release is as of the date hereof, and Chegg undertakes no duty to update this information except as required by law. These and other important risk factors are described more fully in documents filed with the Securities and Exchange Commission, including Chegg\u2019s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on February 20, 2024 and Chegg&#8217;s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 filed with the Securities and Exchange Commission on November 12, 2024, and could cause actual results to differ materially from expectations.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241125687867r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20241125687867\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20241125687867\/en\/<\/a><\/span><\/p>\n<p>\nMedia Contact: Candace Sue, <a rel=\"nofollow\" href=\"mailto:press@chegg.com\">press@chegg.com<br \/>\n<\/a><br \/>Investor Contact: Tracey Ford, <a rel=\"nofollow\" href=\"mailto:IR@chegg.com\">IR@chegg.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Primary\/Secondary Education Technology Software Artificial Intelligence University<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20241125687867\/en\/1598597\/3\/Logo_Chegg_Web.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026 SANTA CLARA, Calif.&#8211;(BUSINESS WIRE)&#8211; Chegg, Inc. (NYSE:CHGG), a leading student-first connected learning platform, today announced that it has entered into individual, privately negotiated repurchase agreements with certain holders of its outstanding 0% Convertible Senior Notes due 2026 (the \u201cNotes\u201d) to repurchase approximately $116.6 million in aggregate principal amount of the Notes for an aggregate cash repurchase price of approximately $96.2 million (the \u201cnote repurchase transactions\u201d). The note repurchase transactions were entered into in connection with Chegg\u2019s previously announced securities repurchase program and are expected to close on December 3, 2024, subject to the satisfaction of customary closing conditions. Following the closing, approximately $127.9 million aggregate principal amount of the Notes &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-790454","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026 SANTA CLARA, Calif.&#8211;(BUSINESS WIRE)&#8211; Chegg, Inc. (NYSE:CHGG), a leading student-first connected learning platform, today announced that it has entered into individual, privately negotiated repurchase agreements with certain holders of its outstanding 0% Convertible Senior Notes due 2026 (the \u201cNotes\u201d) to repurchase approximately $116.6 million in aggregate principal amount of the Notes for an aggregate cash repurchase price of approximately $96.2 million (the \u201cnote repurchase transactions\u201d). The note repurchase transactions were entered into in connection with Chegg\u2019s previously announced securities repurchase program and are expected to close on December 3, 2024, subject to the satisfaction of customary closing conditions. Following the closing, approximately $127.9 million aggregate principal amount of the Notes &hellip; Continue reading &quot;Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-25T14:18:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241125687867r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026\",\"datePublished\":\"2024-11-25T14:18:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\\\/\"},\"wordCount\":629,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20241125687867r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chegg-announces-repurchase-of-0-convertible-senior-notes-due-2026\\\/\",\"name\":\"Chegg Announces Repurchase of 0% Convertible Senior Notes Due 2026 - 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