Scholastic announces tender offer to purchase up to $200M of common stock

Scholastic (SCHL) announced the commencement of a modified “Dutch Auction” tender offer to purchase up to $200M of its common stock at a price not less than $36.00 per share or more than $40.00 per share to the seller in cash, less any applicable withholding taxes and without interest. The number of shares proposed to be purchased in the tender offer represents approximately 25% of Scholastic’s currently outstanding common stock. The closing price per share of Scholastic’s common stock on the Nasdaq Stock Market on Friday, March 20, 2026, the last full trading day prior to the commencement of the tender offer, was $37.25 per share. The tender offer will expire on Monday, April 20, 2026 at 5:00 p.m., New York City time, unless the tender offer is extended or earlier terminated by the company. J.P. Morgan Securities will serve as the dealer manager for the tender offer.