Udemy shares will cease trading on Nasdaq. Holders should have received Coursera shares per the merger terms. Monitor Coursera's post-merger performance for read-through on combined entity value.
Price Chart
Executive Summary
Nasdaq filed Form 25-NSE to remove Udemy's common stock from listing and deregister it under Section 12(b) of the Securities Exchange Act, effective May 11, 2026. This is the procedural step following Udemy's merger with Coursera, where each Udemy share was converted into 0.800 shares of Coursera common stock. The delisting is a direct consequence of the merger, not a standalone negative event.
Key Facts
- Form 25-NSE filed by Nasdaq on May 11, 2026, to delist Udemy common stock.
- Delisting effective immediately on May 11, 2026.
- Udemy completed merger with Coursera on May 11, 2026, becoming a wholly-owned subsidiary.
- Each Udemy share converted into 0.800 shares of Coursera common stock.
- Exchange ratio based on Coursera's $4.78 average closing price for the five days prior.
- Udemy stock will be deregistered under Section 12(b) of the Exchange Act.
Financial Impact
No standalone financial impact; delisting is procedural following merger completion. Udemy shareholders received Coursera shares at the stated exchange ratio.
Risk Factors
- Udemy shareholders now hold Coursera shares, subject to Coursera's business and market risks.
- Potential mismatch between merger exchange ratio and subsequent Coursera stock price movement.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 25-NSE Filing (Primary) | 0001354457-26-000432 |
| Document: 0001354457-26-000432-index-headers.html | 0001354457-26-000432 |
| Document: 0001354457-26-000432-index.html | 0001354457-26-000432 |
| Document: 0001354457-26-000432.txt | 0001354457-26-000432 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 16w ago | Institutional Cluster | — | awaiting T+1 | — | — |
Jun 11, 2026 16w ago | Institutional Cluster | — | awaiting T+1 | — | — |
May 21, 2026 19w ago | 15-12G | — | awaiting T+1 | — | — |
May 11, 2026 20w ago | 25-NSE | $4.63 $4.63 | · 0.00% | ▲ +0.14% | — |
May 11, 2026 20w ago | 8-K | $4.63 $4.63 | · 0.00% | ▲ +0.14% | — |
Apr 10, 2026 25w ago | 10-K/A | $4.61 $4.75 | ▲ +3.04% | ▲ +1.83% | — |
US Market Status
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