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Article: United States: Education Management prices IPO at $18 a share.
- Article from:
- TendersInfo
- Article date:
- October 5, 2009
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Education Management Corp. shares are expected to begin trading Fridayafter the for-profit higher education provider priced its initial public offering of 20 million common shares at the low end of its proposed range.
The Pittsburgh company had expected to sell the shares for between $18 and $20 per share, and announced late Thursday it had priced them at $18 a share.
The shares will trade under the ticker "EDMC."
The 20 million shares will represent about 14 percent of Education Management's 139.8 million common shares outstanding after the offering, according to an SEC filing.
Education Management expects net proceeds of about $334.8 ...