Connect with us

Technology

2U Successfully Completes Financial Restructuring to Drive Innovation and Growth

Published

6 days ago

on

2U emerges from Chapter 11 well-positioned to expand industry-leading services and advance mission of making high-quality education accessible to learners worldwide

ARLINGTON, Va., Sept. 13, 2024 /PRNewswire/ — 2U, a global leader in online education, today announced it has successfully completed its financial restructuring and emerged from Chapter 11 as a privately held entity. With this transaction complete, 2U now operates with a significantly strengthened balance sheet, firmly positioning the company to support leading universities in delivering high-impact, career-focused education essential for building a skilled global workforce. 2U moves forward with complete continuity of its operations and the full support of a deeply-aligned new ownership group.

“At the outset of this process, we committed to emerge as a stronger company, and that is exactly what we have done,” said Paul Lalljie, Chief Executive Officer of 2U. “The steps we have taken enable us to further invest in our offerings, services, and world-class team so we can continue delivering unparalleled online learning that meets the needs of today’s students and workforce development demands. With renewed purpose and an unmatched portfolio of partners, education offerings, and tech-enabled services, we are well-positioned to fulfill our mission: making education more accessible, affordable, and impactful for all.”

For over 15 years, 2U has partnered with the world’s leading universities to reimagine the delivery of higher education beyond the physical classroom and expand opportunities for learners. While we have made significant progress, vast opportunities remain to achieve our collective vision of global, scalable, and affordable access to career-enhancing education that equips learners for success. Today, 2U enters a new era of innovation while continuing its steadfast commitment to delivering exceptional learning outcomes that elevate the global workforce. Upon emergence from Chapter 11, 2U will be governed by a new Board led by Brian Napack as Executive Chairman. Mr. Napack is a longtime education industry executive, former CEO of John Wiley (WLY), Chairman of the Association of American Publishers, and Senior Advisor at Providence Equity.

“With this transaction completed, 2U can continue to focus on its essential mission and accelerate into its next phase,” said Brian Napack, Executive Chairman of 2U’s new Board. “For 15 years, the extraordinary team at 2U has been helping the world’s leading universities transform the way higher education is delivered. Education must continue to evolve, and today, 2U is uniquely positioned to enable this ongoing evolution and truly move the needle for learners and employers worldwide.”

Advisors
Latham & Watkins LLP served as legal counsel, Moelis & Company served as investment banker, AlixPartners LLP served as financial advisor, and C Street Advisory Group served as strategic communications advisor to 2U. Weil, Gotshal & Manges LLP served as legal counsel to the ad hoc group of noteholders of 2U, Schulte Roth & Zabel LLP served as counsel to a significant noteholder, Greenvale Capital LLP, and Houlihan Lokey served as investment banker to the ad hoc group of noteholders and Greenvale. Milbank LLP served as legal counsel and FTI Consulting, Inc. served as financial advisor to the ad hoc group of first lien term loan lenders.

About 2U

2U is a global leader in online education. Guided by its founding mission to eliminate the back row in higher education, 2U has spent 15 years advancing the technology and innovation to deliver world-class learning outcomes at scale. Through its global online learning platform edX, 2U connects more than 89 million people with thousands of affordable, career-relevant learning opportunities in partnership with 260 of the world’s leading universities, institutions, and industry experts. From free courses to full degrees, 2U is creating a better future for all through the power of high-quality online education. Learn more at 2U.com.

Contact
C Street Advisory Group
2U@thecstreet.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/2u-successfully-completes-financial-restructuring-to-drive-innovation-and-growth-302248179.html

SOURCE 2U

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Dana-Farber Cancer Institute Partners with Clinical.ly to Enhance Regulatory Operations with eReg Solutions

Published

14 mins ago

on

September 19, 2024

By

NEW YORK, Sept. 19, 2024 /PRNewswire/ — The Dana-Farber Cancer Institute, a world leader in cancer treatment and research, chose Clinical.ly’s (www.clinical.ly) Research Suite™ to streamline regulatory operations, marking a significant step toward more efficient and compliant clinical trial management. Dana-Farber joins a growing number of research organizations that leverage Clinical.ly’s innovative solutions to streamline clinical trial processes. Clinical.ly’s eReg platform offers a comprehensive, paperless solution that centralizes regulatory workflows, ensuring compliance and transparency across clinical trials.

“We are thrilled to support Dana-Farber’s clinical research operations,” said Henry Kravchenko, Clinical.ly’s CEO.

This partnership continues Clinical.ly’s success in providing best-in-class enterprise tools for conducting clinical research. “We are thrilled to support Dana-Farber’s clinical research operations,” said Henry Kravchenko, Clinical.ly’s CEO. “Our eReg platform and wider set of features in Clinical.ly Research Suite™ will empower that renowned organization, and we all look forward to supporting their teams.”

About Clinical.ly Research Suite™ 

Clinical.ly Research Suite™ is a comprehensive solution that eliminates traditional, paper-based processes. By automating and centralizing essential workflows in the Clinical.ly Research Suite™, organizations achieve huge efficiency improvements, greater trial oversight, document management, and regulatory compliance. The Clinical.ly Research Suite™ includes:

eReg: A best-in-class electronic regulatory bindereSource: An intuitive & feature-rich, paperless data capture solution that streamlines data collection from trial participantseConsent: A fully digital solution for capturing informed consent, improving participant engagement and site complianceClinicallySign: 21 CFR Part 11 compliant eSignature functionalityClinicallyPay: A secure and instantaneous participant stipend payment and reimbursement solution

About Dana-Farber Cancer Institute

Founded in 1947, Dana-Farber Cancer Institute is committed to providing adults and children with the best treatment available today while developing tomorrow’s cures through cutting-edge research. Based in Boston, Dana-Farber is a teaching affiliate of Harvard Medical School and ranks consistently as one of the top cancer hospitals in the world.

About Clinical.ly

Clinical.ly provides differentiated, cloud-native technology solutions to the clinical research industry, enabling research organizations to conduct studies with greater efficiency and ease. Clinical.ly is dedicated to developing technology that eliminates tedious manual labor, allowing clinical research professionals to focus on patient care.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dana-farber-cancer-institute-partners-with-clinically-to-enhance-regulatory-operations-with-ereg-solutions-302253690.html

SOURCE Clinical.ly

Continue Reading

Technology

Fall Into Creativity with the Monport Laser Fall Sale

Published

14 mins ago

on

September 19, 2024

By

NEW YORK, Sept. 19, 2024 /PRNewswire/ — Experience laser innovation this Fall with Monport Laser, an industry frontrunner in laser engraving and cutting technology, with an exclusive Fall Sale offering incredible discounts and free accessories on a wide range of high-performance laser engraving machines. From September 19th to September 30th, customers can take advantage of this limited-time opportunity to elevate their laser engraving businesses with cutting-edge laser innovation at unbeatable prices.

Monport Laser has been dedicated to providing innovative and reliable laser machines that empower businesses and individuals to achieve their goals. With a focus on quality, precision, and customer satisfaction, Monport Laser has established itself as a trusted leader in the industry. Their commitment to excellence is evident in every laser they produce, ensuring exceptional performance, reliability, and value.

Embrace the Power of CO2 Laser Technology with Exclusive Offers

Monport Laser will offer two free accessories with selected CO2 laser machines during the Monport Fall sale. These versatile lasers are ideal for various applications, including engraving, cutting, and marking wood, acrylic, leather, and more. By taking advantage of this Fall sale, laser engraving businesses can enhance their productivity and expand their creative possibilities.

Experience Unmatched Value with Fiber Laser Discounts

Monport Laser offers substantial discounts of up to $4200 and 3 free accessories on selected models for those seeking the precision and speed of fiber laser technology. Fiber lasers are renowned for their ability to process metals with exceptional efficiency and accuracy, making them indispensable for metal fabrication, manufacturing, and jewelry production. Additionally, customers purchasing fiber lasers during the Fall sale will receive three free accessories, further sweetening the deal.

Elevate Your Desktop Laser Experience with a Free Water Chiller

Monport Laser is committed to providing comprehensive solutions for businesses of all sizes. As part of the Fall sale, customers who purchase the 40W Desktop laser will receive a Free Water Chiller Cw3000. This essential accessory ensures optimal cooling and performance, prolonging the lifespan of the laser and guaranteeing consistent results.

Discover Additional Savings on a Wide Range of Accessories

Monport Laser offers an additional 20% discount on selected accessories to complete your laser setup. From lenses and nozzles to rotary tables and smoke extraction systems, customers can find everything they need to maximize the potential of their laser machines.

Unleash Your Creativity and Productivity

Monport Laser’s Fall sale is the perfect opportunity to invest in laser technology that empowers your business or fuels your creative passions. With exceptional discounts and free accessories, you can acquire the ideal laser solution to meet your needs and budget.

Whether you’re an entrepreneur, artist, or manufacturer, Monport Laser’s advanced laser machines offer unparalleled precision, versatility, and reliability. Take advantage of this limited-time Fall sale and unlock your projects’ full potential for laser innovation.

About Monport Laser

Monport Laser is a global leader in designing, manufacturing, and distributing high-quality laser machines and accessories. With a commitment to innovation and customer satisfaction, Monport Laser provides cutting-edge solutions for various industries, including manufacturing, engraving, marking, and more.

For more information, visit monportlaser.com and follow them on social media for the latest updates.

Website: https://www.monportlaser.com/

 

 

 

View original content:https://www.prnewswire.com/news-releases/fall-into-creativity-with-the-monport-laser-fall-sale-302253699.html

SOURCE Monport Laser

Continue Reading

Technology

MEDIA ADVISORY – Minister Wilkinson to Make a Critical Minerals Infrastructure Announcement

Published

14 mins ago

on

September 19, 2024

By

VANCOUVER, BC, Sept. 19, 2024 /CNW/ – The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Ranj Pillai, the Premier of Yukon, will make a funding announcement in support of critical minerals infrastructure projects. A media availability will follow.

Date: September 20, 2024

Time: 10:30 a.m. PT

All accredited media are asked to pre-register by emailing media@nrcan-rncan.gc.ca. A dial-in line is available for media and will be provided upon registration.

Follow us on LinkedIn

SOURCE Natural Resources Canada

Continue Reading

Trending