On October 29, 2021, Udemy announced the pricing of its initial public offering of its common stock at a price of $29.00 per share. Udemy is offering 14,500,000 shares of its common stock, plus up to an additional 2,175,000 shares that the underwriters have a 30-day option to purchase. The shares began trading on the Nasdaq Global Select Market on October 29, 2021, under the ticker symbol “UDMY” and the offering closed on November 2, 2021.
Morgan Stanley, J.P. Morgan, Citigroup, BofA Securities, Jefferies, and Truist Securities are acting as book-running managers for the offering. KeyBanc Capital Markets, Piper Sandler, William Blair, Baird, and Needham & Company are acting as co-managers for the offering. The underwriters initially propose to offer part of the shares of common stock directly to the public at the public offering price and part to certain dealers, including Drexel Hamilton and Guzman & Company, at the public offering price less a specified concession.
The Wilson Sonsini team that advised Udemy on the transaction includes:
Corporate
Yoichiro Taku
Tony Jeffries
Lianna Whittleton
Christina Poulsen
James Babikian
Charlie McDonald
Eric Abram
Jessie Couch
Hoy Shih
Delaware Corporate
Ryan Greecher
Angie Flaherty
Tiphanie Cascella
Employee Benefits and Compensation
Scott McCall
Michael Klippert
TTG
John McGaraghan
Sean Withall
Stephanie Stark
Privacy and Cybersecurity
Matt Staples
Daniel Chen
Michael O’Brien
For more information, please see Udemy’s press release.