Udemy Raises $421M Via IPO Priced At Top End Of Estimated Range

  • Online learning and teaching marketplace Udemy Inc UDMY has fixed the initial public offering price at $29 per share, at the top of the previously expected $27-$29 per share range, resulting in $420.5 million proceeds.
  • The company is offering 14.5 million shares of its common stock, plus up to an additional 2 million shares that the underwriters have a 30-day option to purchase.
  • The company expects the shares to begin trading on the Nasdaq Global Select Market on October 29, 2021, under the ticker symbol "UDMY."
  • The offering is expected to close on November 2, 2021, subject to customary closing conditions.
  • Udemy has a market value of nearly $4 billion based on the 137.42 million outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.
  • Morgan Stanley, J.P. Morgan, Citigroup, BofA Securities, Jefferies, and Truist Securities are acting as book-running managers for the offering.
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