LANHAM, Md., Aug. 5, 2020 /PRNewswire/ -- 2U, Inc.
(Nasdaq: TWOU) ("2U"), a global leader in education technology,
today announced the pricing of an underwritten public offering of
6,800,000 shares of its common stock at a price to the public of
$45.50 per share. In addition, 2U has
granted the underwriters a 30-day option to purchase up to an
additional 1,020,000 shares of common stock from 2U at the public
offering price, less the underwriting discount. The offering is
expected to close on or about August 10,
2020, subject to customary closing conditions.
Morgan Stanley is acting as sole book-running manager for the
offering. Credit Suisse Securities (USA) LLC is acting as co-manager for the
offering.
2U previously filed an automatically effective registration
statement (including a prospectus) relating to these securities
with the U.S. Securities and Exchange Commission (the "SEC") for
the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration
statement and other documents filed with the SEC for more
information about 2U and this offering. You may obtain these
documents free of charge by visiting the SEC's website at
www.sec.gov. A copy of the prospectus and any prospectus supplement
related to the offering may be obtained from Morgan Stanley by mail
at Morgan Stanley & Co. LLC, Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New York,
NY 10014.
This press release does not and shall not constitute an offer to
sell or a solicitation of an offer to buy any shares of 2U's common
stock, nor shall there be any offer, solicitation or sale of such
shares, in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About 2U, Inc.
Eliminating the back row in higher education is not just a
metaphor—it's our mission. For more than a decade, 2U, Inc., a
global leader in education technology, has been a trusted partner
and brand steward of great universities. We build, deliver, and
support more than 435 digital and in-person educational offerings,
including graduate degrees, professional certificates,
Trilogy-powered boot camps, and GetSmarter short courses. Together
with its partners, 2U has positively transformed the lives of more
than 245,000 students and lifelong learners.
Forward-Looking Statements
This press release contains forward-looking statements regarding
the offering of the shares, which are subject to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. All statements other than statements of historical facts
contained in this press release, including statements regarding the
offering of the shares and the closing of the offering, are
forward-looking statements. 2U has based these forward-looking
statements on its current expectations and projections about future
events as of the date of this press release. 2U undertakes no
obligation to update these statements as a result of new
information or future events. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions that
could cause actual results to differ materially from the results
predicted, including, but not limited to, risks related to the
offering of the shares, market risks and uncertainties and the
impact of any natural disasters or public health emergencies, such
as the COVID-19 pandemic. These and other potential risks and
uncertainties that could cause actual results to differ from the
results predicted are more fully detailed under the heading "Risk
Factors" in 2U's Annual Report on Form 10-K for the year ended
December 31, 2019, as amended and
supplemented by risks and uncertainties under the heading "Risk
Factors" in 2U's Quarterly Report on Form 10-Q for the quarter
ended June 30, 2020, and 2U's other
filings with the SEC. Moreover, 2U operates in a very competitive
and rapidly changing environment. New risks emerge from time to
time. It is not possible for 2U's management to predict all risks,
nor can 2U assess the impact of all factors on its business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements 2U may make. In light of these risks,
uncertainties and assumptions, the forward-looking events and
circumstances discussed in this press release may not occur and
actual results could differ materially and adversely from those
anticipated.
Contact Information
Media: Glenda Felden, 2U,
Inc.,
media@2U.com
Investor Relations: Ed
Goodwin, 2U, Inc., egoodwin@2U.com
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SOURCE 2U, Inc.