Strategic Education, Inc. Announces Public Offering of Common Stock

About this update from Strategic Education, Inc.

[{"type":"text","content":" HERNDON, Va.--(BUSINESS WIRE)--\nStrategic Education, Inc. (Strategic Education) (NASDAQ: STRA) announced today it has commenced an underwritten registered public offering of $175 million of shares of its common stock. In addition, Strategic Education intends to grant the underwriters an option for 30 days to purchase up to $26.25 million of additional shares of its common stock. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.\n\n\nStrategic Education intends to use a portion of the net proceeds of the offering to fund, in part, the cost of the proposed acquisition of Laureate Education, Inc.’s Australia and New Zealand operations, and the remainder for general corporate purposes, which could include future acquisitions, capital expenditures and working capital. The closing of the offering is not conditioned upon the consummation of the proposed acquisition. If the proposed acquisition is not consummated, Strategic Education intends to use the net proceeds of the offering for future acquisitions and general corporate purposes, which could include other acquisitions.\n\n\nBofA Securities and Truist Securities are acting as joint lead book-running managers for the offering.\n\n\nThe offering is being made pursuant to an effective shelf registration statement and preliminary prospectus supplement filed by Strategic Education with the Securities and Exchange Commission (SEC). The preliminary prospectus supplement related to the offering will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, or by emailing: [email protected]; or from Truist Securities, 3333 Peachtree Road NE, 9th floor, Atlanta, Georgia 30326, Attention: Prospectus Department, email: [email protected].\n\n\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy Strategic Education’s common stock nor shall there be any sale of such common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to regi...

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