Brief: 2U, Inc. Announces Acquisition Of Edx Assets

2U

29/06/2021 12:07

June 29 (Reuters) - 2U Inc  TWOU.O :
    * 2U, INC. ANNOUNCES ACQUISITION OF EDX ASSETS
    * 2U INC - DEAL FOR $800 MILLION IN CASH CONSIDERATION
    * 2U INC - AFFIRMS FULL-YEAR 2021 FINANCIAL GUIDANCE
    * 2U INC - TRANSACTION TO BE FUNDED WITH EXISTING CASH,
INCLUDING
PROCEEDS FROM NEW $475 MILLION SENIOR SECURED TERM LOAN B
    * 2U INC - TRANSACTION HAS BEEN APPROVED BY 2U AND EDX'S
BOARDS OF
DIRECTORS AND IS NOT SUBJECT TO ANY SHAREHOLDER APPROVAL OR
FINANCING CONTINGENCY
    * 2U INC - TRANSACTION IS EXPECTED TO BE ACCRETIVE TO 2U'S
ADJUSTED EBITDA IN FISCAL YEAR 2023
    * 2U INC - TRANSACTION EXPECTED TO BE DILUTIVE TO ADJUSTED
EBITDA
IN FISCAL YEAR 2022 BY A LOW SINGLE-DIGIT PERCENTAGE
    * 2U INC - AFFIRMATION OF GUIDANCE DOES NOT INCLUDE ANY
POTENTIAL
IMPACT FROM EDX TRANSACTION

Source text for Eikon:  ID:nPn3sg87xa 
Further company coverage:  TWOU.O 

 ((Reuters.Briefs@thomsonreuters.com;))