Venture capital-backed textbook rental and academic services provider Chegg aims to raise up to $172.5m in its upcoming IPO on the New York Stock Exchange.
The company, which is backed by Pinnacle Ventures, Kleiner Perkins Caufield and Byers, Gabriel Ventures and Insight Venture Partners, plans to float 15m shares at a price of between $9.5 and $11.5, according to a filing with US securities regulators. Earlier this year the company filed to raise $150m in an IPO.
The underwriters including JP Morgan, BofA Merrill Lynch, Jefferies and Piper Jaffray have an option to buy up to 2.25m shares.
Chegg offers millions of physical and digital textbooks for students as well as online homework help, course organization and scheduling and college and university matching tools.
Copyright © 2013 AltAssets