Bridgepoint Education (BPI) IPO Trades Higher
The IPO for Bridgepoint Education (NYSE: BPI) opened for trading today. The stock is trading at $11.11 after pricing 13,500,000 shares of its common stock at $10.50 per share, which was lowered from an expected $14-$16 range.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. acted as joint book-running managers of the offering. William Blair & Company, L.L.C., BMO Capital Markets Corp., Piper Jaffray & Co., and Signal Hill Capital Group, LLC, acted as co-managers for the offering.
Bridgepoint Education's postsecondary education services focus on offering associate's, bachelor's, master's and doctoral programs in the disciplines of business, education, psychology, social sciences and health sciences. Bridgepoint Education's regionally accredited academic institutions - Ashford University and University of the Rockies - deliver their programs online as well as at traditional campuses located in Clinton, Iowa, and Colorado Springs, Colorado, respectively.
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