Fenwick & West represented Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, in its $187.5 million initial public offering. The company priced 15,000,000 shares of common stock at a price to the public of $12.50 per share. Of the shares in the offering, 14,400,000 shares are being offered by Chegg and 600,000 shares are being offered by a selling stockholder.
J.P. Morgan and BofA Merrill Lynch acted as joint lead bookrunners for the offering. Jefferies acted as lead manager and Piper Jaffray, Raymond James and BMO Capital Markets acted as co-managers.
The Fenwick securities transaction team was led by corporate partner David Bell and included corporate associates Shulamite Shen White, Amanda Rose, Christine Chen and Sheri Wardwell; and executive compensation and employee benefits attorneys Blake Martell and Elizabeth Gartland.
More information about the offering is available from the announcement on Chegg’s website.