Udemy Announces Final IPO Lock-up Release

Rhea-AI Summary

On April 27, 2022, Udemy (NASDAQ: UDMY) announced the expiration of lock-up agreements following its IPO, allowing the sale of 124,380,752 shares by directors and executive officers. This change may impact stock liquidity as these shares become available in the public market. Udemy is recognized for its online learning platform, providing diverse courses and corporate training solutions.

Positive

• The expiration of lock-up agreements increases market liquidity with 124,380,752 shares now eligible for trading.
• Udemy offers a broad range of courses, enhancing its appeal to both individual and corporate learners.

Negative

• The release of a substantial number of shares may lead to downward pressure on the stock price due to increased supply in the market.

SAN FRANCISCO, April 27, 2022 (GLOBE NEWSWIRE) -- In connection with the initial public offering (the “IPO”) of common stock of Udemy, Inc. (“Udemy'' or the “Company”) (NASDAQ: UDMY), a leading destination for learning and teaching online, all of the Company’s directors, executive officers and holders of substantially all of the Company’s equity securities outstanding prior to the IPO entered into lock-up agreements with the underwriters for the IPO to restrict their ability to sell or transfer shares of the Company through April 26, 2022, subject to certain exceptions. Pursuant to the expiration of these lock-up agreements in accordance with their terms, 124,380,752 shares of the Company’s common stock became eligible for sale in the public market at the open of trading on April 27, subject to any trading limitations on shares held by affiliates of the Company, continued vesting of any unvested equity awards as of such date, and any of the Company’s insider trading or other policies.

About Udemy
Udemy (Nasdaq: UDMY) provides flexible, effective skill development to empower organizations and individuals. The Udemy marketplace platform, with thousands of up-to-date courses in dozens of languages, offers the tools learners, instructors, and enterprises need to achieve their goals and reach their full potential. Millions of people learn on Udemy from real-world experts in topics ranging from programming and data science to leadership and team building. Udemy Business offers corporate customers an employee training and development platform with subscription access to thousands of courses, learning analytics, and the ability to host and distribute their own content. Udemy Business customers include Fender Instruments, Glassdoor, GoFundMe, On24, The World Bank, and Volkswagen. Udemy is headquartered in San Francisco with hubs in Ankara, Turkey; Austin, Texas; Boston, Massachusetts; Mountain View, California; Denver, Colorado; Dublin, Ireland; Melbourne, Australia; New Delhi, India; and Sao Paulo, Brazil.

Contact
Media:
Abby Welch
Director, Global Communications
abby.welch@udemy.com

Investors:
The Blueshirt Group
https://investors.udemy.com/shareholder-resources/contact-ir 

FAQ

What happened on April 27, 2022, regarding Udemy's stock?

On April 27, 2022, Udemy's lock-up agreements expired, allowing 124,380,752 shares to be freely traded.

How many shares became eligible for sale on Udemy's IPO lock-up expiration?

A total of 124,380,752 shares became eligible for sale following the expiration of lock-up agreements.

What is Udemy's stock symbol?

Udemy's stock symbol is UDMY.

What is the potential impact of the lock-up expiration on UDMY stock?

The expiration may lead to increased supply of shares in the market, potentially putting downward pressure on UDMY's stock price.