Welcome to our dedicated page for 2U news (Ticker: TWOU), a resource for investors and traders seeking the latest updates and insights on 2U stock.
2U, Inc. (TWOU) provides a global platform powering online education through university partnerships and cloud-based learning solutions. This news hub offers investors and stakeholders timely access to official announcements and market-moving developments.
Track all essential updates including quarterly earnings reports, strategic academic partnerships, platform innovations, and leadership updates. Our curated feed ensures you stay informed about 2U's role in shaping accessible, technology-driven higher education.
Discover how 2U's SaaS solutions continue transforming digital learning through press releases on new degree program launches, operational efficiency initiatives, and financial restructuring efforts. Content is updated as developments occur, providing a reliable resource for monitoring this edtech leader's trajectory.
Bookmark this page for streamlined access to 2U's latest corporate communications, analyst commentary, and verified industry coverage. Check regularly for updates impacting the company's position in the competitive online education market.
2U, Inc. (TWOU), a global leader in online education, has initiated a financial restructuring to strengthen its balance sheet and position for growth. The company has entered into a Restructuring Support Agreement (RSA) with lenders and noteholders, which will:
- Provide approximately $110 million of new capital
- Reduce debt by over 50% to about $459 million
- Extend loan maturity dates by over two years
To implement this, 2U filed for Chapter 11 bankruptcy protection, expecting to complete the process by September 2024. The company assures that all educational programs and services will continue without interruption. Following court approval, 2U plans to emerge as a private company backed by existing lenders and noteholders.
2U, a leading online education platform, announced a 1-for-30 reverse stock split of its common stock, effective June 13, 2024, following shareholder approval on May 20, 2024.
The stock will begin trading on a post-split basis on June 14, 2024, under the symbol "TWOU". The reverse split aims to increase the per-share market price to meet Nasdaq's minimum bid price requirement. Each 30 shares will be combined into one share, affecting all shareholders equally and proportionally adjusting all equity awards.
No fractional shares will be issued; holders will receive cash payments instead. Equiniti Trust Company will act as the exchange and transfer agent for the split.
Pepperdine University and 2U announced an expansion of their partnership by launching six new online degree programs in education and healthcare disciplines. These include a Master of Science in Education, a Master of Arts in Teaching, three doctoral programs in education, and a Master of Science in Speech-Language Pathology. The programs aim to address workforce gaps in teaching and healthcare, with the MS in Education launching in 2024 and the others in 2025. To date, over 7,000 learners have enrolled in Pepperdine's programs through this partnership, which began in 2017. The new programs will include in-person training facilitated by 2U's placement network, which has recently achieved over 100,000 placements. The press release underscores 2U's role in providing high-quality, flexible education and Pepperdine's commitment to preparing students for roles in high-demand fields.
2U, Inc. reported financial and operating results for the first quarter of 2024. Despite better-than-expected results, the company faces challenges and is focused on executing a turnaround. Revenue decreased by 17%, with Degree Program Segment revenue down 21% and Alternative Credential Segment revenue down 11%. The net loss was $54.6 million. Adjusted EBITDA decreased by 43% to $17.3 million. The company's increased cash position and performance improvement initiatives aim to strengthen the balance sheet.
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