Author Topic: ASPU - Aspen Group  (Read 3803 times)

BG2008

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Re: ASPU - Aspen Group
« Reply #10 on: December 13, 2019, 06:32:08 AM »
This is the probably the fastest about face on an equity offering of a company that I have seen.  The CEO is eccentric and I would say that his biggest weakness is capital markets capability which leaves ASPU constantly looking for funding.  He should market his company as "Education As A Service" not "Education As A Home Payment".  His pivots and strategic thinking is actually quite impressive.  Going after pre-licensure has been an absolute homerun.   These two press releases are about 13 hours apart. 

NEW YORK, Dec. 12, 2019 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (ASPU) (“the Company” or “AGI”), an education technology holding company, today announced that Aspen intends to offer and sell shares of its common stock in an underwritten public offering. Aspen also expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of shares of common stock offered in the public offering.  There can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering.

Aspen intends to use the net proceeds from this offering for potential repayment of debt, to repurchase and retire approximately 430,000 shares of its common stock from certain of its directors and officers at a price equal to the net proceeds per share that Aspen will receive from the offering, before expenses, to fund capital expenditures and for general corporate purposes.

Canaccord Genuity LLC is acting as the sole bookrunning manager of the offering.

NEW YORK, Dec. 13, 2019 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (ASPU) (“the Company” or “AGI”), an education technology holding company, today announced that it has determined not to proceed with the proposed public offering of its common stock previously announced on December 12, 2019. The determination results from an assessment by the Company's management that current equity market conditions are not conducive for an offering on terms that would be in the best interests of the Company's stockholders. The offering was being made pursuant to a shelf registration statement that was declared effective by the Securities and Exchange Commission on April 18, 2018. This press release shall not constitute an offer to sell or the solicitation of an offer to buy common stock or any other securities of Aspen Group in any jurisdiction.