SCHL · Scholastic Corporation

Summary

Scholastic Corporation announced its Board of Directors authorized the repurchase of up to $200 million of common stock through a modified Dutch Auction tender offer at anticipated prices of not less than $36.00 per share and not more than $40.00 per share. The offer is expected to commence March 23, 2026, and expire April 20, 2026, funded by cash on hand and revolving credit facility borrowings.

Key takeaways

• Board authorized repurchase of up to $200 million common stock
• Modified Dutch Auction tender offer
• Price range $36.00-$40.00 per share, less withholding taxes
• Commencement expected March 23, 2026
• Expiration April 20, 2026 at 5:00 p.m. New York City time
• Funding from cash on hand and revolving credit facility
• Dealer-Manager: J.P. Morgan Securities LLC
• Information Agent: Georgeson LLC
• Depositary: Computershare Trust Company, N.A.