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Coursera (NYSE: COUR) investors back Udemy deal and double share authorization

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Coursera, Inc. reported that its stockholders approved key items needed to complete its planned acquisition of Udemy, Inc. At a special meeting, holders of 112,952,116 shares of Coursera common stock were represented out of 169,313,599 shares outstanding as of the record date, constituting a quorum.

Stockholders approved issuing Coursera common shares under the Merger Agreement, with 112,318,586 votes in favor, 273,944 against and 359,586 abstentions. They also adopted an amendment to Coursera’s charter to increase authorized common shares from 300,000,000 to 600,000,000, with 111,016,381 votes for, 1,581,645 against and 354,090 abstentions.

The proposal to adjourn the meeting was not needed because the main proposals passed. The Udemy merger remains subject to satisfaction of remaining closing conditions, including required approvals and other conditions described in the Merger Agreement and related disclosures.

Positive

  • Coursera stockholders strongly approved the Udemy merger share issuance, with 112,318,586 votes in favor versus 273,944 against, clearing a key closing condition for the planned business combination.
  • Stockholders adopted a charter amendment doubling authorized common shares from 300 million to 600 million, providing the share capacity Coursera needs to support the Udemy transaction and related equity issuances.

Negative

  • None.

Insights

Shareholder approval clears major hurdle for Coursera’s Udemy acquisition.

The special meeting shows strong support for Coursera’s planned acquisition of Udemy. The share issuance for the merger passed with over 112 million votes in favor versus fewer than 300,000 against, indicating broad backing from voting stockholders.

The charter amendment doubling authorized common shares from 300 million to 600 million gives Coursera the share capacity needed to complete the all‑stock aspects of the deal and related needs. This step changes the capital structure framework but does not itself issue new shares.

The merger is not yet closed; it still depends on remaining conditions in the Merger Agreement, including regulatory and other approvals referenced in the forward‑looking statements. Future updates about satisfaction of those conditions and integration plans will determine how the combined Coursera–Udemy platform ultimately performs after completion.

Item 5.07 Submission of Matters to a Vote of Security Holders Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Shares outstanding on record date 169,313,599 shares Coursera common stock outstanding and entitled to vote as of March 6, 2026
Shares represented at special meeting 112,952,116 shares Coursera common stock present in person or by proxy at the April 9, 2026 meeting
Votes for merger share issuance 112,318,586 votes Proposal 1 approval to issue Coursera shares under the Udemy Merger Agreement
Votes against merger share issuance 273,944 votes Proposal 1 opposition for Coursera’s issuance of shares in the Udemy merger
Authorized shares before amendment 300,000,000 shares Coursera common stock authorized prior to charter amendment
Authorized shares after amendment 600,000,000 shares Coursera common stock authorized after stockholder-approved charter amendment
Votes for charter amendment 111,016,381 votes Proposal 2 approval to increase authorized Coursera common shares
Agreement and Plan of Merger financial
"Coursera, Inc. entered into an Agreement and Plan of Merger with Udemy, Inc."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
special meeting of stockholders financial
"Coursera held a special meeting of stockholders on April 9, 2026, at 8:00 a.m."
A special meeting of stockholders is an unscheduled gathering called to let shareholders vote on specific, often urgent company decisions—like mergers, major asset sales, changes to the board, or amendments to governing rules. Think of it as an emergency town hall where owners cast ballots in person or by mail/online; outcomes can materially change a company’s strategy, control or value, so investors pay close attention and may need to vote or adjust holdings accordingly.
Amended and Restated Certificate of Incorporation financial
"An amendment to Coursera’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares"
A company’s amended and restated certificate of incorporation is an updated version of its foundational legal charter that replaces the older document and folds in all changes into one clear copy; it spells out corporate structure, classes of stock, shareholder rights and key governance rules. Investors care because it can change who controls the company, how votes are counted, what claims shareholders have on assets or dividends, and can introduce or remove protections against takeovers—like updating a house title after a major renovation to show who owns what and under what rules.
forward-looking statements regulatory
"This communication contains forward-looking statements that involve substantial risks and uncertainties."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
public benefit corporation financial
"in accordance with the standards and obligations applicable to the combined company as a public benefit corporation and as a B Corp."
A public benefit corporation is a legal type of company that pledges to pursue a specific public good—such as environmental protection, worker welfare or community development—alongside earning profits for shareholders. Like a restaurant that promises to source local ingredients while still trying to turn a profit, this structure lets managers weigh social goals against financial returns, which can influence strategy, risk profile and investor expectations about how decisions are made.
B Corp. financial
"standards and obligations applicable to the combined company as a public benefit corporation and as a B Corp."

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 


FORM 8-K
 

CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): April 9, 2026
 

 
COURSERA, INC.
(Exact name of Registrant as Specified in Its Charter)
 

Delaware
001-40275
45-3560292
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)

2440 West El Camino Real, Suite 500
Mountain View, California
 
94040
(Address of Principal Executive Offices)
 
(Zip Code)

Registrant’s Telephone Number, Including Area Code: (650) 963-9884
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which
registered
Common Stock, $0.00001 par value per share
COUR
The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 5.07.
Submission of Matters to a Vote of Security Holders.

As previously disclosed, on December 17, 2025, Coursera, Inc. (“Coursera”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Udemy, Inc. (“Udemy”) and Chess Merger Sub, Inc. (“Merger Sub”).  The Merger Agreement provides that, subject to the terms and conditions set forth in the Merger Agreement, Merger Sub will merge with and into Udemy (the “Merger”), with Udemy continuing as the surviving corporation of the Merger and a wholly-owned subsidiary of Coursera.

In connection with the Merger, Coursera held a special meeting of stockholders on April 9, 2026, at 8:00 a.m. Pacific Time (the “Special Meeting”).  At the Special Meeting, Coursera’s stockholders voted on the following proposals, which are described in its definitive joint proxy statement/prospectus filed with the Securities and Exchange Commission (the “SEC”) on March 10, 2026 (the “Proxy Statement”).

As of the close of business on the record date of March 6, 2026, 169,313,599 shares of Coursera’s common stock, par value $0.00001 (“Coursera Common Stock”), were outstanding and entitled to vote at the Special Meeting.  A total of 112,952,116 shares of Coursera Common Stock, constituting a quorum, were represented in person or by proxy at the Special Meeting.

The final results for the votes regarding each proposal are set forth below.

Proposal 1:  The issuance of shares of Coursera Common Stock pursuant to the Merger Agreement was approved.  The voting results were as follows:

For
 
Against
 
Abstain
 
Broker Non-Votes
112,318,586
 
273,944
 
359,586
 
-

Proposal 2:  An amendment to Coursera’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Coursera Common Stock from 300,000,000 shares to 600,000,000 shares was adopted.  The voting results were as follows:

For
 
Against
 
Abstain
 
Broker Non-Votes
111,016,381
 
1,581,645
 
354,090
 
-

Proposal 3 described in the Proxy Statement (relating to the adjournment of the Special Meeting, if necessary or appropriate) was deemed not necessary and was not presented at the Special Meeting as a result of the approval of Proposals 1 and 2.

The Merger remains subject to the satisfaction of the remaining closing conditions under the Merger Agreement.


Cautionary Note Regarding Forward-Looking Statements

This communication relates to a proposed business combination transaction (the “business combination”) between Coursera and Udemy. This communication contains forward-looking statements that involve substantial risks and uncertainties. Any statements contained in this communication that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as: “accelerate,” “anticipate,” “believe,” “can,” “continue,” “could,” “demand,” “design,” “estimate,” “expand,” “expect,” “intend,” “may,” “might,” “mission,” “need,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. These forward-looking statements include, but are not limited to, statements regarding expected timing and benefits of the business combination and the outlook for Coursera’s and Udemy’s results of operations and financial condition (including potential synergies) following the business combination. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined companies or the price of Coursera or Udemy stock. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance, benefits or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic, market or business conditions, including competition, risks related to online learning solutions and risks related to our AI innovations and AI generally; risks related to the business combination, including the effect of the announcement of the business combination on the ability of Coursera or Udemy to retain and hire key personnel and maintain relationships with customers, vendors and others with whom Coursera or Udemy do business, or on Coursera’s or Udemy’s operating results and business generally; risks that the business combination disrupts current plans and operations and the potential difficulties in attracting and retaining qualified personnel as a result of the business combination; the outcome of any legal proceedings related to the business combination; the ability of the parties to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory approvals on the terms expected, at all or in a timely manner; the ability to successfully integrate Coursera’s and Udemy’s operations and business on a timely basis or otherwise in accordance with the standards and obligations applicable to the combined company as a public benefit corporation and as a B Corp.; Coursera’s and Udemy’s ability to implement our plans, forecasts and other expectations with respect to the combined company’s business after the completion of the transaction and realize expected synergies and other benefits of the combination within the expected timeframe or at all; the amount of the costs, fees, expenses and charges related to the proposed combination; fluctuations in the prices of Coursera or Udemy stock; and potential business disruptions following the business combination. These risks, as well as other risks related to the proposed transaction, are included in the Proxy Statement (available online at https://www.sec.gov/Archives/edgar/data/1651562/000114036126008783/ny20062436x3_424b3.htm).  While the risks presented here and in the Proxy Statement, are considered representative, they should not be considered a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Coursera’s and Udemy’s respective periodic reports and other filings with the SEC, all of which are available online on the SEC’s website at https://www.sec.gov. The forward-looking statements included in this communication are made only as of the date hereof, and are based on the current beliefs of Coursera and Udemy as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Neither Coursera nor Udemy undertakes any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except to the extent required by law. The information that can be accessed through hyperlinks or website addresses included in this communication is deemed not to be incorporated in or part of this communication.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 9, 2026
COURSERA, INC.
 
     
 
By:
/s/ Alan B. Cardenas
 
   
Name:  Alan B. Cardenas
 
   
Title:    Senior Vice President, General Counsel and Secretary
 



FAQ

What did Coursera (COUR) stockholders approve regarding the Udemy merger?

Coursera stockholders approved issuing Coursera common stock under the Merger Agreement with Udemy. Proposal 1 received 112,318,586 votes for, 273,944 against, and 359,586 abstentions, satisfying a key condition needed for the planned combination of the two online learning companies.

How did Coursera (COUR) change its authorized share count at the special meeting?

Stockholders adopted an amendment to Coursera’s Amended and Restated Certificate of Incorporation to increase authorized common shares from 300,000,000 to 600,000,000. Proposal 2 passed with 111,016,381 votes in favor, 1,581,645 against, and 354,090 abstentions, enabling sufficient share capacity.

How many Coursera (COUR) shares were eligible and represented in the Udemy merger vote?

As of the March 6, 2026 record date, 169,313,599 Coursera common shares were outstanding and entitled to vote. At the April 9, 2026 special meeting, 112,952,116 shares were represented in person or by proxy, establishing a quorum for the merger-related proposals.

Was the proposal to adjourn Coursera’s Udemy merger special meeting used?

The adjournment proposal described in the proxy statement was not presented. It was unnecessary because stockholders had already approved both the share issuance for the Udemy merger and the charter amendment increasing authorized shares, removing the need to extend or reconvene the special meeting.

Is Coursera’s acquisition of Udemy now complete after this stockholder vote?

The acquisition is not yet complete. The merger remains subject to satisfaction of remaining closing conditions under the Merger Agreement, including securing required regulatory approvals and other specified conditions before Udemy becomes a wholly owned Coursera subsidiary.

What risks and uncertainties does Coursera highlight about the Udemy business combination?

Coursera notes risks including economic conditions, competition, online learning and AI-related risks, potential disruption from the merger, retention of key personnel, regulatory approvals, legal proceedings, integration challenges, costs of the transaction, stock price volatility, and uncertainties around realizing expected synergies and benefits.

Filing Exhibits & Attachments

3 documents