Chegg to redeem 0.25% convertible senior notes due 2023

By Taylor Fox

New York, March 1 – Chegg, Inc. plans to redeem its $345 million 0.25% convertible senior notes due 2023 (Cusip: 163092AB5), according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on May 20 at par plus interest.

At any time prior to 5 p.m. ET on May 19, the notes may be converted at a price of $26.95 per share, into 37.1051 shares of common stock.

Wells Fargo Bank, NA is the trustee.

Chegg is a Santa Clara, Calif.-based online textbook rental, tutoring, scholarship and internship matching company.

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