Greenwood Hall Completes $8 Million Recapitalization to Fuel Rapid Expansion in Higher Education Sector
August 25 2014 - 8:30AM
Business Wire
-- Company to Enhance Infrastructure,
Accelerate R&D Activities --
Greenwood Hall, Inc. (OTCBB: ELRN), provider of dynamic student
lifecycle solutions for colleges and universities, today announced
that it has completed an $8 million recapitalization to help the
company accelerate its expansion in the higher education
sector.
The recapitalization includes a combination of both equity
investment and debt refinancing. In addition to enhancing the
company’s infrastructure, the Company also is introducing new
technologies that will provide schools with unique visibility and
analytics, aimed at both attracting and retaining students.
“Greenwood Hall has built a strong reputation helping schools
enter new markets and enhance student success,” said Dr. John Hall,
Greenwood Hall’s Chief Executive Officer and Co-Founder. “We have
been able to grow and establish a leadership position, and the
recapitalization will provide us with the tools necessary to
further expand the Company’s services.
“When one takes into account the Company’s new technology
platform, Greenwood Hall is well positioned to provide schools with
enduring student lifecycle solutions that solve real challenges in
higher education,” Dr. Hall said. “We are excited about the
opportunities that lie ahead and the ability to help more schools
thrive in a rapidly evolving higher education marketplace.”
As the education technology industry grows, Greenwood Hall’s
solutions have supported more than 450,000 students, who have
invested hundreds of millions of dollars in tuition primarily at
private, not-for-profit and public institutions.
“Unlike other options that may just include educational
technology, consulting, or offerings that impact only segments of
the student lifecycle, Greenwood Hall solutions are holistic in
nature – addressing the entire student lifecycle and providing
schools with great tools, as well as personalized services for
students,” said Dr. Hall. “With more than two-thirds of university
CFOs saying that higher education is facing a financial crisis,
Greenwood Hall is uniquely positioned to continue to help schools
improve efficiencies and deliver better outcomes to students.”
About Greenwood Hall, Inc.
Powering the education revolution one student at a time,
Greenwood Hall helps colleges and universities increase
enrollments, create positive student experiences and enhance
learning outcomes throughout the student lifecycle via dynamic
cloud-based solutions that integrate state of the art technology,
higher education expertise, project management and workforce
solutions. Since establishing its education business in 2006,
Greenwood Hall has grown to approximately 150 employees serving
more than 25 education clients and over 70 degree programs. The
company is headquartered in Orange County, California, with
facilities in College Station, Texas and Shanghai, China. For more
information, visit http://www.greenwoodhall.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995:
Certain statements contained in this document, including, but
not limited to, predictions and projections that may be considered
forward-looking statements under securities law, involve a number
of risks and uncertainties that could cause actual results to
differ materially, including, but not limited to, lack of consumer
acceptance and demand for the Company’s products, insufficient
working capital to expand the Company’s technology and engage in
product marketing, intense competition from larger and more
well-established companies, and other economic, competitive and
technological factors involving the Company's operations, markets,
services, products and prices.
PondelWilkinson Inc.Evan Pondel,
310-279-5980epondel@pondel.com