News
Capital Allocation · Dutch Auction · Shareholder Return · Stock Repurchase
Scholastic Corporation announced a modified "Dutch Auction" tender offer to repurchase up to $200 million of its common stock, with an anticipated cash purchase price per share between $36.00 and $40.00, commencing March 23, 2026, and expiring April 20, 2026.
The company plans to fund this repurchase using cash on hand and borrowings from its revolving credit facility. Peter Warwick, President and CEO, stated this action represents a disciplined step in Scholastic's capital allocation strategy, aiming to optimize the balance sheet and efficiently return cash to shareholders following recent real estate transactions.
J.P. Morgan Securities LLC will serve as the Dealer-Manager for the Offer, with Georgeson LLC as Information Agent and Computershare Trust Company, N.A. as Depositary. Scholastic's management and board are not making recommendations to shareholders regarding tendering shares; shareholders must consult their financial and tax advisors.
The offer is subject to various terms and conditions detailed in documents to be filed with the SEC.
