Chegg breaks shell with upsized US$1bn stock sale

摘要

CHEGG found enough excess demand to upsize a one-day marketed stock sale by 20% to USSlbn late on Wednesday, taking advantage of its 150% stock price bounce in the past year as the pandemic has accelerated the shift to online education. The resurgent digital study help and textbook rental firm sold 9.8m shares, or about 7.5% of the outstanding, at US$102, an 8.9% file-to-offer discount.