8-K
filed September 16, 2024, 7:59 PM ET
CIK 0001459417
other material
confidence high
sentiment neutral
materiality 1.00
2U emerges from Chapter 11; old equity cancelled, new owners take control
2U, Inc.
- All old common stock cancelled without consideration; company converts to 2U, LLC, a private entity.
- New $414.3M first lien and ~$65.06M second lien term loans replace existing debt; $30M paydown from equity rights offering.
- New board appointed: Brian Napack (Exec Chairman), Paul Lalljie (CEO), plus Laurence Berg, Jason Mudrick, others.
- Company intends to terminate SEC reporting obligations and continue as private company.
- Operations continue with full support of new ownership group; no disruption to university partnerships.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul Lalljie was appointed as Manager at 2U, Inc..
- Action
- appointed
- Role
- Manager
Exact text from the filing
On the Effective Date and immediately following the Conversion, the following individuals were appointed as Managers of the Company in accordance with the LLC Agreement: Brian Napack, Laurence Berg, Paul Lalljie, Jason Mudrick, Sean Britain, Bruce Emery, and Thomas C. Fleming.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jason Mudrick was appointed as Manager at 2U, Inc..
- Action
- appointed
- Role
- Manager
Exact text from the filing
On the Effective Date and immediately following the Conversion, the following individuals were appointed as Managers of the Company in accordance with the LLC Agreement: Brian Napack, Laurence Berg, Paul Lalljie, Jason Mudrick, Sean Britain, Bruce Emery, and Thomas C. Fleming.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas C. Fleming was appointed as Manager at 2U, Inc..
- Action
- appointed
- Role
- Manager
Exact text from the filing
On the Effective Date and immediately following the Conversion, the following individuals were appointed as Managers of the Company in accordance with the LLC Agreement: Brian Napack, Laurence Berg, Paul Lalljie, Jason Mudrick, Sean Britain, Bruce Emery, and Thomas C. Fleming.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Laurence Berg was appointed as Manager at 2U, Inc..
- Action
- appointed
- Role
- Manager
Exact text from the filing
On the Effective Date and immediately following the Conversion, the following individuals were appointed as Managers of the Company in accordance with the LLC Agreement: Brian Napack, Laurence Berg, Paul Lalljie, Jason Mudrick, Sean Britain, Bruce Emery, and Thomas C. Fleming.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sean Britain was appointed as Manager at 2U, Inc..
- Action
- appointed
- Role
- Manager
Exact text from the filing
On the Effective Date and immediately following the Conversion, the following individuals were appointed as Managers of the Company in accordance with the LLC Agreement: Brian Napack, Laurence Berg, Paul Lalljie, Jason Mudrick, Sean Britain, Bruce Emery, and Thomas C. Fleming.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Brian Napack was appointed as Manager at 2U, Inc..
- Action
- appointed
- Role
- Manager
Exact text from the filing
On the Effective Date and immediately following the Conversion, the following individuals were appointed as Managers of the Company in accordance with the LLC Agreement: Brian Napack, Laurence Berg, Paul Lalljie, Jason Mudrick, Sean Britain, Bruce Emery, and Thomas C. Fleming.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Bruce Emery was appointed as Manager at 2U, Inc..
- Action
- appointed
- Role
- Manager
Exact text from the filing
On the Effective Date and immediately following the Conversion, the following individuals were appointed as Managers of the Company in accordance with the LLC Agreement: Brian Napack, Laurence Berg, Paul Lalljie, Jason Mudrick, Sean Britain, Bruce Emery, and Thomas C. Fleming.
View on SEC.gov
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