CHARLES TOWN, W.Va.--(BUSINESS WIRE)--Dec. 9, 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 $37.50 per share (before the underwriting discount). The
offering is expected to close on December 12, 2008.
The 3,806,657 shares being sold in the offering consist of 15,000 shares
being sold by the Company and 3,791,657 shares being sold by ABS Capital
Partners and its affiliated funds. 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. The
selling stockholders have granted the underwriters a 30-day option to
purchase up to an additional 421,295 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, BMO Capital Markets Corp., Signal Hill
Capital Group LLC, ThinkEquity LLC, Barrington Research Associates, Inc.
and First Analysis Securities Corporation 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. 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 41,000 students who live and work in
all 50 states and more than 130 countries; and offers 73 degree programs
and 49 certificate programs in fields ranging from national security,
military studies, intelligence, homeland security, and criminal justice
to technology, business administration, liberal arts and education.
CONTACT: American Public Education, Inc.
Chris Symanoskie, 703-334-3880
csymanoskie@apus.edu
Source: American Public Education, Inc.