secwatch.observer — SEC 8-K summary
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Issuer:     Coursera, Inc. (COUR)
CIK:        0001651562
Form:       8-K
Filed at:   2025-12-17T23:59:59+00:00
Accession:  0001140361-25-045860
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coursera to acquire Udemy in all-stock merger; exchange ratio of 0.800
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- Udemy shareholders receive 0.800 shares of Coursera common stock per share; fractional shares paid in cash.
- Transaction requires stockholder approval from both companies; Coursera to amend charter to increase authorized shares.
- Termination fee of $40.5M payable by breaching party; $8.0M expense reimbursement if stockholder approvals not obtained.
- Voting agreements: Insight Venture Partners (~26% of Udemy) and NEA/Andrew Ng (~12% of Coursera) commit to vote for deal.
- Post-closing board of 9 directors (6 from Coursera, 3 from Udemy); Coursera CEO remains.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1651562/000114036125045860/0001140361-25-045860-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1651562/000114036125045860/ef20061445_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-045860

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