Phoenix Education launches IPO with shares priced at $31-$33

Phoenix Education Partners Inc., parent company of The University of Phoenix Inc., announced the launch of its initial public offering of 4.25 million shares of common stock. All shares will be sold by existing stockholders rather than the company itself.

The selling shareholders have granted underwriters a 30-day option to purchase up to an additional 637,500 shares at the IPO price, minus underwriting discounts and commissions. The company expects to price shares between $31.00 and $33.00 per share.

Phoenix Education has applied to list its common stock on the New York Stock Exchange under the ticker symbol "PXED."

Morgan Stanley, Goldman Sachs & Co. LLC, BMO Capital Markets and Jefferies are serving as lead book-running managers for the offering. Apollo Global Securities and Truist Securities are acting as joint book-running managers, while B. Riley Securities, Barrington Research, Loop Capital Markets, Academy Securities, Bancroft Capital and Siebert Williams Shank are serving as co-managers.

The information is based on a company press release statement.

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