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# Chegg Exits Its Debt, But Barely Has Cash Left to Show for It
- URL: https://www.pennystocks.news/chgg-chegg-exits-its-debt-but-barely-has-cash-left-to-show-f/
- Published: 2026-09-04T19:40:15.000Z
- Updated: 2026-09-04T19:40:15.000Z
- Description: $72 million before, $38 million after. Chegg paid off its last bonds at maturity and now carries no debt. The CFO says the company has flexibility to execute its strategy. The filing doesn't say what that strategy costs.
- Author: PennyStocksNews Team
- Tags: nasdaq, ticker-chgg

The debt is gone. But so is nearly half the cash.

CHEGG, INC. NYSE: CHGG 

Chegg **repaid $33.9 million in convertible notes** on September 1, the day they came due, according to an 8-K filed with the SEC the same day. The notes carried no interest — the filing describes them as 0% convertible senior notes — and with that payment, Chegg says it **carries no outstanding debt**.

The cash position tells the other half of the story. As of June 30, Chegg held **about $72 million in cash and investments**. Handing over $33.9 million cut that roughly in half: the company said in its press release that cash on a pro forma basis would have been **approximately $38 million**. The filing does not say how long that is expected to last.

Shares **closed 18.31% higher at $0.9788** on September 4, after the filing, on dollar volume of about $8.8 million.

"We have taken meaningful actions to reduce costs and improve cash flow," CFO David Longo said in the press release attached to the filing. "With no debt and a stronger financial foundation, we have the financial flexibility to execute on our strategy and create long-term value for our shareholders."

The company has not said what that strategy costs, or how far $38 million takes it.