Cengage Group in a $500 million investment from Apollo funds

On April 17, 2023, Cengage Group, a global edtech company, announced it has signed a definitive agreement with funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) whereby Apollo funds will purchase $500 million of a new series of convertible preferred stock of Cengage Group, subject to certain adjustments.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Cengage Group.