Chegg announces new $150 million accelerated share repurchase

Santa clara, calif.--(business wire)--chegg, inc. (nyse:chgg), the leading student-first connected learning platform, today announced that it has entered into an accelerated share repurchase agreement (“asr”) with morgan stanley bank, national association, to repurchase $150 million of chegg's common stock. under the asr, chegg will make an initial payment of $150 million to morgan stanley bank, national association, and will receive an initial delivery of approximately 13.5 million shares of i.
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