|By PR Newswire||
|March 27, 2014 11:18 PM EDT||
LANDOVER, Md., March 27, 2014 /PRNewswire/ -- 2U, Inc. today announced the pricing of its initial public offering of 9,175,000 shares of its common stock at a price to the public of $13.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on March 28, 2014 under the ticker "TWOU." A total of 8,000,000 shares are being offered by 2U and 1,175,000 shares are being offered by selling stockholders. In addition, 2U and certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,376,250 additional shares of common stock at the initial public offering price. 2U will not receive any proceeds from the sale of shares by the selling stockholders.
Goldman, Sachs & Co. and Credit Suisse Securities (USA), LLC are acting as joint book-running managers for the offering. Needham & Company, LLC, Oppenheimer & Co. Inc., and Pacific Crest Securities LLC are acting as co-managers.
The offering will be made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained by mail from the offices of Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected], or from the Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, telephone: 1-800- 221-1037 or by emailing [email protected].
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 27, 2014.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities 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.
Founded in 2008 by a team of education and technology veterans, 2U enables leading colleges and universities to deliver their high quality education to qualified students anywhere. Our cloud-based software-as-a-service platform provides schools with the comprehensive operating infrastructure they need to attract, enroll, educate, support, and graduate their students. Our mission is to enable the education our clients provide to reach its highest potential so students can reach theirs.
Chance Patterson 202-262-5213
SOURCE 2U, Inc.
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