American Public Education Announces Proposed Public Offering of Common Stock

About this update from American Public Education, Inc.

[{"type":"text","content":"CHARLES TOWN, W.Va., Feb. 24, 2021 /PRNewswire/ -- American Public Education, Inc. (Nasdaq: APEI) today announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares in the offering are to be sold by APEI. APEI also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of shares of common stock offered in the public offering at the public offering price, less the underwriting discount. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. \n\n \n \n \n \n \n \n\n \nAPEI expects to use the net proceeds from this offering for general corporate purposes, which may include working capital and capital expenditures. If APEI completes its acquisition of Rasmussen University, it may use a portion of the net proceeds of this offering to fund costs associated with closing of the acquisition, including to replace APEI's obligation to issue $29 million of preferred stock at the closing of that transaction.\nTruist Securities and William Blair are acting as joint lead book-running managers and as representatives of the underwriters for the proposed offering. B. Riley Securities is also acting as a book-running manager for the offering.\nThe securities are being offered pursuant to a shelf registration statement on Form S-3 (333-252980), which was declared effective by the Securities and Exchange Commission (SEC) on February 19, 2021. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained for free by contacting either Truist Securities, Inc. Attention: Prospectus Department, 3333 Peachtree Road NE, 9th Floor, Atlanta, Georgia 30326, email: [email protected], or William Blair & Company, L.L.C., Attention: Prospectus Department, The William Blair Building, 150 North Riverside Plaza, Chicago, Illinois 60606, Telephone (800) 621-0687 or by em...

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