secwatch.observer — SEC 8-K summary
======================================

Issuer:     2U, Inc. (—)
CIK:        0001459417
Form:       8-K
Filed at:   2024-09-16T23:59:59+00:00
Accession:  0001193125-24-219689
Event type: other_material
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 1.02, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

2U emerges from Chapter 11; old equity cancelled, new owners take control
-------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1459417/000119312524219689/0001193125-24-219689-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1459417/000119312524219689/d820461d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-219689

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer