Chegg exchanges $301.8M of convertible notes for cash; $898.2M remain outstanding

CHEGG, INC

Exchanged $66.2M of 0% 2026 notes and $235.6M of 0.125% 2025 notes for ~$260M cash total.
Closing expected May 22, 2023; final repurchase price for 2025 notes depends on May 12 VWAP.
After closing, $433.8M of 2026 notes and $464.4M of 2025 notes remain outstanding.
Exchange agreements entered with limited holders; transactions reduce debt and interest burden.

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