Chegg, Inc. $700 Million Convertible Senior Notes Offering

Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Chegg, Inc. of $700 million aggregate principal amount of its 0.125% convertible senior notes due 2025. 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 Sarah K. Solum, counsel Jeffrey Gould and associate Ali DeGolia. The tax team included partner Rachel D. Kleinberg. Partner Pritesh P. Shah provided intellectual property and technology advice. The derivatives team included partner John M. Brandow, counsel Justin Michael and associates Joseph Luizzi, Divon Rathgeber and Brittany Taylor. Members of the Davis Polk team are based in the Northern California and New York offices.