Strategic Education (STRA) Announces $175M Public Offering of Common Stock

Strategic Education, Inc. (Strategic Education) (NASDAQ: STRA) announced today it has commenced an underwritten registered public offering of $175 million of shares of its common stock. In addition, Strategic Education intends to grant the underwriters an option for 30 days to purchase up to $26.25 million of additional shares of its common stock. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Strategic Education intends to use a portion of the net proceeds of the offering to fund, in part, the cost of the proposed acquisition of Laureate Education, Inc.’s Australia and New Zealand operations, and the remainder for general corporate purposes, which could include future acquisitions, capital expenditures and working capital. The closing of the offering is not conditioned upon the consummation of the proposed acquisition. If the proposed acquisition is not consummated, Strategic Education intends to use the net proceeds of the offering for future acquisitions and general corporate purposes, which could include other acquisitions.

BofA Securities and Truist Securities are acting as joint lead book-running managers for the offering.

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