Archipelago Learning (ARCL) IPO Prices at $16.50, Near Top End of Range
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Archipelago Learning, Inc. (Nasdaq: ARCL) announced that the initial public offering of 6,250,000 shares of its common stock has been priced at $16.50 per share, near the top end of the expected $15-$17 range. The shares will begin trading today on The NASDAQ Global Market under the ticker symbol "ARCL."
Of the shares being sold, 3,125,000 are being offered by the Company and 3,125,000 shares are being offered by selling stockholders.
BofA Merrill Lynch and William Blair & Company acted as joint book-running managers for the offering. Robert W. Baird & Co., Piper Jaffray and Stifel Nicolaus acted as co-managers of the offering.
Archipelago Learning is a leading subscription-based online education company. Archipelago Learning provides standards-based instruction, practice, assessments and reporting tools that improve the performance of educators and students via proprietary web-based platforms.
Of the shares being sold, 3,125,000 are being offered by the Company and 3,125,000 shares are being offered by selling stockholders.
BofA Merrill Lynch and William Blair & Company acted as joint book-running managers for the offering. Robert W. Baird & Co., Piper Jaffray and Stifel Nicolaus acted as co-managers of the offering.
Archipelago Learning is a leading subscription-based online education company. Archipelago Learning provides standards-based instruction, practice, assessments and reporting tools that improve the performance of educators and students via proprietary web-based platforms.
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