CHARLES TOWN, W. Va.--(BUSINESS WIRE)--Nov. 9, 2007--American
Public Education, Inc. (NASDAQ:APEI) - parent company of online
learning provider American Public University System, which operates
through American Military University and American Public University -
announced today the pricing of its initial public offering of
4,687,500 shares of its common stock at $20.00 per share, before
underwriting discounts and commissions. The offering is expected to
close on November 14, 2007. The Company has granted the underwriters a
30-day option to purchase up to an additional 703,125 shares at the
initial public offering price to cover over-allotments, if any.
The shares are expected to begin trading today on The NASDAQ
Global Market under the symbol "APEI." Total net proceeds to the
Company will be approximately $85.4 million, after deducting
underwriting discounts and commissions and estimated offering
expenses. The Company will use all of the net proceeds to pay a
special distribution to stockholders who own shares immediately prior
to the closing of the offering in an amount equal to the gross
proceeds from the sale of common stock in the offering, before the
underwriting discount and expenses, and not including any proceeds
from the underwriters' exercise of their over-allotment option.
William Blair & Company, L.L.C. is acting as sole book-running
manager, Piper Jaffray & Co. is acting as co-lead manager, and Stifel,
Nicolaus & Company, Incorporated, ThinkEquity Partners LLC, BMO
Capital Markets Corp. and Signal Hill Capital Group LLC are acting as
co-managers for this offering.
A copy of the prospectus relating to these securities may be
obtained by contacting either: William Blair & Company, L.L.C.,
Attention: Prospectus Department, 222 West Adams, Chicago, Illinois
60606, Telephone: 800-621-0687 or Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, Minneapolis, Minnesota
55402, Telephone: (877) 371-5212. The prospectus is also available on
the Securities and Exchange Commission website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offer or sale will be made only by means of the
written prospectus forming part of the effective registration
statement.
About American Public Education, Inc.
American Public Education, Inc. is the parent company of American
Public University System. The University System is comprised of
American Military University (AMU) and American Public University
(APU) and offers 57 degrees in its online undergraduate and graduate
programs.
CONTACT: American Public Education, Inc.
Director of Investor Relations
Christopher Symanoskie, 703-334-3880
csymanoskie@apus.edu
SOURCE: American Public Education, Inc.