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Coursera Adopts Limited-Duration Stockholder Rights Plan

COUR
  • Coursera's Board unanimously adopted a limited-duration stockholder rights plan effective immediately to protect long-term value for all stakeholders.
  • The plan was implemented in response to a stockholder accumulating approximately 14.7% of the company's common stock.
  • The Rights Plan will expire on November 7, 2027, unless the Board chooses to terminate it earlier.
  • The plan triggers if any person or group acquires beneficial ownership of 15% or more of the common stock.
  • Current shareholders owning more than the triggering threshold may not acquire additional shares without activating the plan.
  • If triggered, rights holders (excluding the acquirer) can purchase shares at a 50% discount to market price or exchange rights for one share each.
  • The Board may redeem the rights for $0.01 per right prior to a 15% acquisition.
  • A non-taxable dividend distribution will be made on November 19, 2026, to stockholders of record.
  • Additional details regarding the plan will be filed in a Form 8-K with the SEC.