CHARLES TOWN, W.Va.--(BUSINESS WIRE)--Feb. 13, 2008--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 public offering of shares of its
common stock at $35.50 per share (before the underwriting discount).
The offering is expected to close on February 19, 2008.
The 3,744,500 shares being sold in the offering consist of 25,000
shares being sold by the Company and 3,719,500 shares being sold by
certain stockholders of the Company, including ABS Capital Partners
and Camden Partners. The Company will use the proceeds it receives
primarily to pay the estimated offering expenses. Any remaining
proceeds to the Company will be used for working capital and other
general corporate purposes. The Company will not receive any of the
proceeds from the sale of common stock by the selling stockholders.
Certain of the selling stockholders have granted the underwriters a
30-day option to purchase up to an additional 500,175 shares at the
public offering price to cover over-allotments, if any.
William Blair & Company, L.L.C. is acting as sole book-running
lead manager, Piper Jaffray & Co. is acting as co-lead manager, and
Stifel, Nicolaus & Company, Incorporated, ThinkEquity Partners LLC,
BMO Capital Markets and Signal Hill Capital Group LLC are acting as
co-managers.
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. Any offer or sale will be made only
by means of the written prospectus forming part of the effective
registration statement for the offering.
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.
About American Public Education, Inc.
American Public Education, Inc. (APEI) is an online provider of
higher education focused primarily on serving the military and public
service communities. American Public University System (APUS), wholly
owned by APEI, comprises two universities - American Military
University (AMU) and American Public University (APU). Regionally and
nationally accredited, APUS serves more than 30,000 students who live
and work in all 50 states and more than 130 countries; and offers 57
degree programs and 48 certificate programs in fields ranging from
homeland security, military studies, intelligence, and criminal
justice to technology, business administration, public health, and
liberal arts.
CONTACT: American Public Education, Inc.
Chris Symanoskie, 703-334-3880
csymanoskie@apus.edu
SOURCE: American Public Education, Inc.