2U, Inc. announced today that it has commenced a proposed public offering of up to $300 million of its common stock. The underwriters have a 30-day option to purchase up to an additional $45 million of common stock from the Company at the public offering price. All of the shares in the offering are to be sold by the Company.
The proceeds of the offering will be used by the Company for working capital and other general corporate purposes, including expenditures for program and short course marketing, technology, and content development, in connection with new program and short course launches and growing existing programs and short courses as well as the strategic acquisition of, or investment in, complementary products, technologies, solutions or businesses.
Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint lead book-running managers for the proposed offering. Citigroup Global Markets, Inc. is also acting as a book-running manager. Compass Point, KeyBanc Capital Markets and Macquarie Capital are acting as co-managers.
About 2U, Inc. (NASDAQ: TWOU)
2U partners with great colleges and universities to build what we believe is the world's best digital education. Our platform provides a comprehensive fusion of technology, services and data architecture to transform high-quality and rigorous campus-based universities into the best digital versions of themselves. 2U's No Back Row® approach allows qualified students and working professionals around the world to experience a first-rate university education and successful outcomes.
