Press release
American Public Education, Inc. Completes Full Redemption of its Series A Senior Preferred Stock and Provides Other Capital Structure Updates
CHARLES TOWN, W.Va., July 1, 2025 /PRNewswire/ -- American Public Education, Inc. (Nasdaq: APEI), is a leading provider of online and campus-based
About this update from American Public Education, Inc.
[{"type":"text","content":"CHARLES TOWN, W.Va., July 1, 2025 /PRNewswire/ -- American Public Education, Inc. (Nasdaq: APEI), is a leading provider of online and campus-based postsecondary education and career learning to over 125,000 students through four subsidiary institutions.\n\n \n \n \n \n \n \n\n \nFull Redemption of Series A Senior Preferred Stock\nAPEI completed the redemption of all outstanding shares of the Company's Series A Senior Preferred Stock for aggregate cash consideration of $44.5 million, including the $1.4 million in accrued and unpaid dividends (the \"Redemption Price\"). The Redemption Price was paid using available cash on hand.\nRelease of Department of Education Letter of Credit\nIn May 2025, the Department of Education released Rasmussen University's $24.5 million letter of credit stemming from its 2020 composite score. The amount is no longer deemed restricted cash.\nCompletes Sale of Corporate Administrative Office Buildings\nOn June 27, 2025, APEI completed the sale of two corporate administrative office buildings located in Charles Town, WV, for aggregate sales proceeds of $22.4 million. The contracts to sell were previously announced and both buildings were assets classified as \"held for sale\" in the March 31, 2025 quarterly filings.\nAngela Selden, President and Chief Executive Officer of APEI, stated, \"These recent actions improve our balance sheet and our strong cash position, while simplifying our capital structure, helping to position APEI well to continue to serve our students and deliver ongoing shareholder value.\"\nAbout American Public Education\nAmerican Public Education, Inc. (Nasdaq: APEI), through its institutions American Public University System, Rasmussen University, Hondros College of Nursing, and Graduate School USA, provides education that transforms lives, advances careers, and improves communities.\nAPUS, which operates through American Military University and American Public University, is the leading educator to active-duty military and veteran students* and serves approximately 88,000 adult learners worldwide via accessible and affordable higher education.\nRasmussen University is a 125-year-old nursing and health sciences-focused institution that serves approximately 14,600 students across its 20 campuses in six states and online. It also has schools of Business, Technology, Design, Early Child...