Laureate Education Announces the Commencement of an Underwritten Public Offering by Selling Stockholders
Laureate Education, Inc. (NASDAQ: LAUR) announced a secondary offering of 32,842,183 shares of its common stock by existing stockholders affiliated with Kohlberg Kravis Roberts & Co. L.P.. The company is not selling any shares and will not receive proceeds from this offering. The underwriting is managed by major financial institutions, including Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC. The offering is made under an existing registration statement filed with the SEC.
- None
- The secondary offering may cause dilution of existing shares, which could negatively affect share price.
- The company will not receive any proceeds from the sale, limiting its ability to fund growth or operations.
MIAMI, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Laureate Education, Inc. (NASDAQ: LAUR) (the “Company”) today announced the commencement of an underwritten secondary offering of 32,842,183 shares of the Company’s common stock by certain existing stockholders affiliated with Kohlberg Kravis Roberts & Co. L.P. (the “Selling Stockholders”). The Company is not selling any shares and will not receive any proceeds from the sale of the shares being offered by the Selling Stockholders.
Goldman Sachs & Co. LLC, BTIG, LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, BMO Capital Markets Corp. and Mizuho Securities USA LLC are acting as book-running managers and AmeriVet Securities, Inc., Blaylock Van, LLC, Tigress Financial Partners LLC, Roberts & Ryan Investments Inc., Samuel A. Ramirez & Company, Inc., Cabrera Capital Markets LLC, Academy Securities, Inc. and Telsey Advisory Group LLC are acting as co-managers for this offering.
A shelf registration statement on Form S-3ASR was filed with the Securities and Exchange Commission (the “SEC”) on April 23, 2021, and was automatically effective upon filing, as amended by the prospectus supplement dated December 10, 2021. A preliminary prospectus supplement relating to the offering described above was filed with the SEC today. The offering will be made only by means of a written prospectus, including a prospectus supplement, 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 any 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 state or jurisdiction.
The preliminary prospectus supplement and the accompanying prospectus relating to this offering are available at the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may also be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, fax: 212-902-9316, email: prospectus-ny@ny.email.gs.com; or BTIG, LLC, 65 E 55th St, New York, NY 10022, email: prospectusdelivery@btig.com. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
About Laureate Education, Inc.
Laureate Education, Inc. operates five higher education institutions across Mexico and Peru, enrolling more than 400,000 students in high-quality undergraduate, graduate, and specialized degree programs through campus-based and online learning. Our universities have a deep commitment to academic quality and innovation, strive for market-leading employability outcomes, and work to make higher education more accessible. At Laureate, we know that when our students succeed, countries prosper, and societies benefit.
Forward-Looking Statements
This press release includes certain statements which contain "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates" or "anticipates" or similar expressions that concern our strategy, plans or intentions. Forward-looking statements are based on the Company's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from our expectations are disclosed in our Annual Report on Form 10-K filed with the SEC on February 24, 2022, our Quarterly Reports on Form 10-Q filed with the SEC, our prospectus supplement to be filed with the SEC and other filings made with the SEC.
Investor Relations Contact:
ir@laureate.net
Media Contacts:
Laureate Education, Inc.
Adam Smith
adam.smith@laureate.net
U.S.: +1 (443) 255 0724
Source: Laureate Education, Inc.
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