2U Announces Pricing Of Offering Of 3.50 Mln Shares At $34.00/shr

(RTTNews) - 2U Inc. (TWOU) announced the pricing of its public offering of 3.50 million shares of its common stock at a price to the public of $34.00 per share. A total of 3.10 million shares are being offered by the Company and 400,000 shares are being offered by the selling stockholders.

The offering is expected to close on or about September 30, 2015, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock from the Company at the public offering price.

The company expects to receive gross proceeds of approximately $105.40 million. The proceeds of the offering will be used by the Company for general corporate purposes, including expenditures for program marketing, sales, technology, and content development, in connection with new program launches and growing existing programs.

The company noted that it will not receive any proceeds from shares of common stock to be sold by the selling stockholders.