Chegg Announces Proposed Follow-on Offering

SANTA CLARA, Calif., July 31, 2017 /PRNewswire/ -- Chegg, Inc. (NYSE: CHGG) today announced that it is commencing an underwritten registered public follow-on offering of 8,000,000 shares of its common stock. Chegg also intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of its common stock.

Chegg expects to use the net proceeds from the offering for working capital and other general corporate purposes, which may include acquisitions of businesses, technologies, or other assets. 

Morgan Stanley, BofA Merrill Lynch and Allen & Company LLC will be acting as joint book-running managers for the offering. Barrington Research and Northland Capital Markets will be acting as co-managers.

An effective registration statement relating to these securities was filed with the Securities and Exchange Commission on July 31, 2017. The proposed offering is being made only by means of an effective shelf registration statement, including a preliminary prospectus and final prospectus, copies of which may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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SOURCE Chegg, Inc.