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CHEGG, INC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

July 3, 2014



Item 1.01. Entry into a Material Definitive Agreement.

On June 30, 2014, Chegg, Inc. ("Chegg") entered into the First Amendment to Credit Agreement with Bank of America, N.A. ("BofA") and the domestic subsidiaries of Chegg ("First Amendment"). The First Amendment amends the Credit Agreement, dated as of August 12, 2013 ("Credit Agreement"), by and among Chegg, the domestic subsidiaries of Chegg, and BofA, to, among other things, reduce the revolving credit facility from an aggregate principal amount of $50,000,000 to $40,000,000, lower the related commitment fees, and make certain other favorable changes to the financial covenants.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is incorporated here by reference.

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Source: Edgar Glimpses


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