Udemy acquired by Coursera; shareholders receive 0.800 Coursera shares per share

Udemy, Inc.

• Merger completed May 11, 2026; Udemy is now a direct wholly owned subsidiary of Coursera.
• Each share of Udemy common stock converted into 0.800 shares of Coursera common stock (plus cash for fractions).
• Udemy stock options and SARs converted to Coursera shares based on Merger Consideration Value of $4.78; out-of-the-money awards cancelled.
• Udemy terminated its $200M secured revolving credit facility; no loans were outstanding.
• Udemy board resigned; new board includes Gregory Hart, Michael Foley, Alan Cardenas, Marcelo Modica. Coursera board gets 3 Udemy designees.

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