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Phoenix Education Sets IPO Price at $32, Eyes NYSE Debut with 4.25M Shares
Phoenix Education Partners Inc. set its initial public offering at $32 per share, preparing for a significant debut on the New York Stock Exchange with 4.25 million shares.
- The initial public offering will consist of 4,250,000 shares sold by existing shareholders of Phoenix Education Partners Inc.
- Underwriters have a 30-day option to purchase an additional 637,500 shares at the IPO price, enhancing investor interest.
- Shares are expected to begin trading on the New York Stock Exchange under the ticker symbol 'P', marking a notable event for the University of Phoenix.
Why It Matters
This IPO is significant as it reflects the growing trend of education companies seeking public investment, which could reshape the future of online and hybrid education models, particularly for institutions like the University of Phoenix.