Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
2U, Inc. (“2U” or the “Company”) (NASDAQ-GS: TWOU) recently completed a follow on offering of 4,025,000 shares of common stock at a price of $34.00 per share, generating gross proceeds of $136.9 million, including the over-allotment option which was fully exercised. The Company intends to use the net proceeds from the offering 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 did not receive any proceeds from shares of common stock sold by the selling stockholders.2U partners with leading colleges and universities to deliver the world’s best online degree programs so students everywhere can reach their full potential. The Company’s platform, a fusion of cloud-based software-as-a-service (SaaS) technology and technology-enabled services, provides schools with the comprehensive operating infrastructure they need to attract, enroll, educate, support and graduate students globally. 2U is headquartered in Landover, Maryland.
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- Date
- October 2015
- Company
- 2U, Inc.
- Transaction
- M&A
- Sectors
- Technology & Services
- Target Geography
- North America
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