Laureate Education Announces Pricing of Public Offering by Selling Stockholder
November 15 2018 - 5:20PM
Laureate Education, Inc. (NASDAQ: LAUR) today announced the pricing
of the previously announced underwritten public offering of
12,250,000 shares of the Company’s Class A common stock by Wengen
Alberta, Limited Partnership (the “Selling Stockholder”), the
Company’s controlling stockholder, at a price to the public of
$14.00 per share. The offering is expected to close on
November 20, 2018, subject to customary closing conditions. In
addition, the Selling Stockholder has granted to the underwriters a
30-day option to purchase an aggregate of not more than 1,837,500
additional shares of the Company’s Class A common stock. The
Company is not selling any shares and will not receive any proceeds
from the sale of the shares being offered by the Selling
Stockholder.
Credit Suisse Securities (USA) LLC, Barclays
Capital Inc. and BMO Capital Markets Corp. are acting as joint lead
book-running managers and representatives of the underwriters.
Macquarie Capital (USA) Inc. is also acting as a lead book-running
manager for the offering. Citigroup Global Markets Inc.,
Goldman Sachs & Co. LLC and KKR Capital Markets LLC are acting
as book-running managers for the offering. Robert W. Baird
& Co. Incorporated, Barrington Research Associates, Inc., Piper
Jaffray & Co. and Stifel, Nicolaus & Company, Incorporated
are acting as co-managers for the offering.
A shelf registration statement on Form S-3ASR
was filed with the Securities and Exchange Commission (the “SEC”)
on April 23, 2018 and was automatically effective upon filing. The
offering will be made only by means of a written prospectus that
forms part of the registration statement. 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 state or jurisdiction.
A copy of the prospectus relating to this
offering is available at the SEC’s website located at www.sec.gov.
A copy of the prospectus relating to this offering may also be
obtained from: Credit Suisse Securities (USA) LLC, Attention:
Prospectus Department, One Madison Avenue, New York, NY 10010, or
by calling toll-free at (800) 221-1037, or by email at
newyork.prospectus@credit-suisse.com; Barclays Capital Inc.,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by calling toll-free at (888) 603-5847, or
by email at barclaysprospectus@broadridge.com; and BMO Capital
Markets Corp., Attention: Equity Syndicate Department, 3 Times
Square, 25th Floor, New York, NY 10036, or by telephone at
800-414-3627 or by email at bmoprospectus@bmo.com.
About Laureate Education, Inc.
Laureate Education, Inc. is the largest international network of
degree granting higher education institutions, primarily focused in
Latin America, with more than 850,000 students enrolled at over 25
institutions with more than 150 campuses, which we collectively
refer to as the Laureate International Universities network.
The institutions in the Laureate International Universities network
are leading brands in their respective markets and offer a broad
range of undergraduate and graduate degrees through campus based,
online and hybrid programs. Laureate believes that when our
students succeed, countries prosper and societies benefit. This
belief is expressed through the company’s philosophy of being ‘Here
for Good’ and is represented by its status as a certified B
Corporation® and conversion in 2015 to a Delaware public benefit
corporation, a new class of corporation committed to creating a
positive impact on society.
Investor Relations Contact:ir@laureate.net
Media Contacts:
Laureate
Education |
Luis Miles |
luis.miles@laureate.net |
U.S.: +1 (443) 627
7595 |
Source: Laureate
Education, Inc. |
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