Chegg, Inc. $1 Billion Convertible Senior Notes Offering

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A offering by Chegg, Inc. of $1 billion aggregate principal amount of its 0% convertible senior notes due 2026. In addition, Davis Polk advised counterparties to capped call transactions in connection with the offering.

Based in Santa Clara, California, Chegg is the leading direct-to-student learning platform. Chegg supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class and save money on required materials.

The Davis Polk corporate team included partner Emily Roberts, counsel Jeffrey Gould and associates Kimberly Wang and Sylvia Zaich. The derivatives team included partner John M. Brandow and associates Crystal Chi, Ben Somogyi and Andrew T. Wilson. The tax team included partner Po Sit and associate Tomislava Dragicevic. Partner Pritesh P. Shah and associates Jay Frankel and Michael V. Policastro provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.