Mountain View, California Coursera, Inc. announced its partial early lock-up release today.
The early lock-up release is with respect to Coursera’s common stock, which has a substandard value of $0.00001 per share in accordance with law and the terms of the lock-up confirmity (“lock-up agreements”) decided by Coursera’s share holders (“equity holders”), including current executive officers and directors, with the underwriters of initial public offering at Coursera.
In accordance with law and to the terms of the lock-up agreements, and respect to 25% of the substandard shares which includes shares primary investments in RSUs and stock options the lock-up restrictions will end.
Provided that in the case of the lock-up agreements with Coursera’s executive officers, directors and certain other shareholders only if certain share price and other conditions are met, as of the date of the lock-up agreement on May 11, 2021 owned by the significant/ appropriate holder.
As per May 4, 2021, the conditions of early release were satisfied. Appropriately, Coursera estimates that up to 34 million shares will become eligible for sale in the public market at the open of trading on May 11, 2021, applied under restrictions under the Securities Act of 1933, as altered, inclusive of Rule 144 and Rule 701.
With respect to all remaining securities subject to the lock-up agreements, the lockup restrictions will be continued and applied.
Coursera was established in 2012 by two Computer Science professors from Stanford, Andrew Ng and Daphne Koller, with an aim to impart universal access to world-class learning. Today it is one of the biggest online learning platforms in the world, with 82 million learners registered with them as of March 31, 2021.
Coursera is in a partnership with over 200 superior university and industry partners to offer a vast catalog of content and credentials. It includes Guided Projects, courses, Specialisations, certificates, and degrees in bachelor’s and master’s.
Over 6,000 institutions have used Coursera to upskill and reskill their employees, citizens, and students, in fields of high-demand like data science, technology, and business.