secwatch.observer — SEC 8-K summary
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Issuer:     Udemy, Inc. (UDMY)
CIK:        0001607939
Form:       8-K
Filed at:   2025-12-18T23:59:59+00:00
Accession:  0001193125-25-323401
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Udemy to be acquired by Coursera in all-stock deal: 0.800 Coursera shares per Udemy share
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- Each Udemy share converts into 0.800 Coursera shares; no fractional shares, cash in lieu.
- Udemy board unanimously approved; recommends stockholders vote for adoption.
- Insight Venture Partners (~26% of Udemy) and NEA/Andrew Ng (~12% of Coursera) entered voting agreements to support deal.
- Termination fee of $40.5M payable by Udemy to Coursera in certain circumstances, e.g., change of recommendation.
- Closing requires Udemy stockholder adoption, Coursera stockholder approvals, HSR clearance; target close by Dec 17, 2026 with possible extension.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1607939/000119312525323401/0001193125-25-323401-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1607939/000119312525323401/d667577d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-323401

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