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Chegg prices IPO at $12.50, above the range

November 13, 2013

Chegg, a leading online textbook rental and educational resource platform company, raised $188 million by offering 15 million shares at $12.50, above the $9.50 to $11.50 range. At its offer price, the company will command a fully diluted market of $1.1 billion and an enterprise value of $977 million. Chegg will list on the NYSE under the symbol CHGG. J.P. Morgan and BofA Merrill Lynch acted as lead managers on the deal.