The company completed a $5 million debt refinancing round on March 2018. Western Alliance Bank provided $2 million of senior debt and $3 million of term loan to the company. Previously, the company was acquired by Chegg (NYS: CHGG) for approximately $20.8 million on July 2, 2018. With this acquisition, Chegg expands its content offering, to provide greater value to students, and can utilize StudyBlue's insights from 10 years of data on student learning.
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