PHOENIX–(BUSINESS WIRE)–Phoenix Education Partners, Inc. (“Phoenix Education” or the “Company”), the parent company of The University of Phoenix, Inc., announced today the launch of its proposed initial public offering (“IPO”) of 4,250,000 shares of its common stock, all of which will be sold by certain of its existing stockholders (the “selling shareholders”). In connection with the offering, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 637,500 shares at the IPO price, less underwriting discounts and commissions. The IPO price is expected to be between $31.00 and $33.00 per share. Phoenix Education has applied to list its common stock on the New York Stock Exchange under the ticker symbol “PXED.”
Morgan Stanley, Goldman Sachs & Co. LLC, BMO Capital Markets and Jefferies are acting as lead book-running managers for the proposed offering. Apollo Global Securities and Truist Securities are acting as joint book-running managers. B. Riley Securities, Barrington Research, Loop Capital Markets, Academy Securities, Bancroft Capital and Siebert Williams Shank are acting as co-managers for the proposed offering.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by e-mail at [email protected], and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by telephone at 866-471-2526, or by e-mail at [email protected].
A registration statement on Form S-1 relating to the proposed offering has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. In connection with the offering, the Company will change its name from AP VIII Queso Holdings, L.P. to Phoenix Education Partners, Inc. and will convert from a Delaware limited partnership to a Delaware corporation.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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. 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.
About Phoenix Education Partners, Inc.
Phoenix Education Partners, Inc. is the parent company of The University of Phoenix, Inc., a pioneer in online education for working adults. Founded in 1976, University of Phoenix provides access to higher education opportunities that enable students to develop the knowledge and skills necessary to achieve their professional goals, improve the performance of their organizations and provide leadership and service to their communities.
Contacts
Investors:
Beth Coronelli
[email protected]
Media:
Andrea Smiley
[email protected]
