2U Inc

NASDAQ:TWOU   3:59:55 PM EDT
45.97
+0.87 (+1.93%)
Debt Financing / Related, Other Pre-Announcement, Mergers / Acquisitions

2U, Inc. Announces Acquisition Of Edx Assets

Published: 06/29/2021 11:13 GMT
2U Inc (TWOU) - 2u, Inc. Announces Acquisition of Edx Assets.
2u Inc - Deal for $800 Million in Cash Consideration.
2u Inc - Affirms Full-year 2021 Financial Guidance.
2u Inc - Transaction to Be Funded With Existing Cash, Including Proceeds From New $475 Million Senior Secured Term Loan B.
2u Inc - Transaction Has Been Approved by 2u and Edx's Boards of Directors and is Not Subject to Any Shareholder Approval Or Financing Contingency.
2u Inc - Transaction is Expected to Be Accretive to 2u's Adjusted EBITDA in Fiscal Year 2023.2u Inc - Transaction Expected to Be Dilutive to Adjusted EBITDA in Fiscal Year 2022 by a Low Single-digit Percentage.
2u Inc - Affirmation of Guidance Does Not Include Any Potential Impact From Edx Transaction.