SAN DIEGO, Nov. 16, 2017 /PRNewswire/ -- Bridgepoint
Education, Inc. (NYSE: BPI) ("Bridgepoint") announced today that an
affiliate of Warburg Pincus LLC (the "Selling Stockholder") intends
to offer for sale 7,562,890 shares of Bridgepoint's common stock in
an underwritten public offering. Immediately following completion
of the offering, the Selling Stockholder will not beneficially own
any of Bridgepoint's outstanding common stock.
In connection with the offering, Bridgepoint may repurchase
shares of common stock from the underwriter.
All of the shares are being sold by the Selling Stockholder, and
the Selling Stockholder will receive all of the net proceeds from
the offering. No shares are being sold by management or Bridgepoint
in the offering.
BTIG, LLC is acting as the sole book-running manager for the
offering.
Bridgepoint filed a shelf registration statement (including a
prospectus) on Form S-3 with the Securities and Exchange Commission
("SEC") for the offering to which this communication relates and
the registration statement was declared effective by the SEC on
November 13, 2017. The offering of
these securities is being made only by means of a preliminary
prospectus supplement and the accompanying prospectus. Before you
invest, you should read the preliminary prospectus supplement and
the accompanying prospectus and the documents incorporated by
reference in that registration statement for more complete
information about Bridgepoint and the offering. You may obtain
electronic copies of these documents for free by visiting the SEC's
website at www.sec.gov. Alternatively, copies of the preliminary
prospectus supplement and the accompanying prospectus, when
available, may also be obtained by contacting BTIG, LLC at 825 3rd
Ave, 6th FL, New York, NY 10022,
email: USSyndicate@btig.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of common stock, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
About Bridgepoint Education
Bridgepoint Education,
Inc. (NYSE:BPI) harnesses the latest technology to reimagine the
modern student experience. Bridgepoint owns two academic
institutions – Ashford University and
University of the Rockies. Together, these programs, technologies,
and resources represent a unique model for advancing education in
the 21st century. Bridgepoint stands for greater access, social
learning, and exposure to leading minds. For more information,
visit www.bridgepointeducation.com,
www.facebook.com/BridgepointEducation, or call Lauren Coartney at 858.513.9240 x11636.
Forward-Looking Statements
This news release may
contain forward-looking statements. These forward-looking
statements are subject to risks and uncertainties that could cause
Bridgepoint's actual performance or results to differ materially
from those expressed in or suggested by such statements. Such risks
and uncertainties include, without limitation, the failure to
comply with the extensive regulatory framework applicable to
Bridgepoint and its institutions, adverse administrative, economic,
legislative or regulatory changes affecting Bridgepoint and its
institutions, the imposition of fines or other corrective measures
against Bridgepoint's institutions, competition in the
postsecondary education market and its potential impact on
Bridgepoint's market share, recruiting costs and tuition rates,
reputational and other risks related to potential compliance
audits, regulatory or legal actions, negative publicity or service
disruptions, and the inability to recruit and retain students or
develop new or expanded programs in a timely and cost-effective
manner.
Additional information on factors that could affect
Bridgepoint's performance or results is included from time to time
in Bridgepoint's filings with the SEC, including, but not limited
to, Bridgepoint's Annual Report on Form 10-K for the year ended
December 31, 2016 filed with the SEC
on March 7, 2017, Bridgepoint's
quarterly reports on Form 10-Q and Bridgepoint's current reports on
Form 8-K. You should not place undue reliance on any
forward-looking statements. Forward-looking statements are made on
the basis of management's good faith beliefs, expectations and
assumptions regarding future events based on information available
at the time such statements are made. Forward-looking statements
speak only as of the date they are made. Bridgepoint assumes no
obligation to update or revise any forward-looking statements to
reflect actual results or any changes in assumptions, expectations
or other factors affecting such forward-looking statements, whether
as a result of new information, future events or otherwise, except
to the extent required by applicable securities laws.
Contact: Anna Davison, Investor
Relations
858.513.9240 x11620 ·
investorrelations@bridgepointeducation.com
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SOURCE Bridgepoint Education