Aspen Group, Inc. (NASDAQ: ASPU) today announced that Aspen intends to offer and sell shares of its common stock in an underwritten public offering. Aspen also expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of shares of common stock offered in the public offering. There can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering.

Aspen intends to use the net proceeds from this offering for potential repayment of debt, to repurchase and retire approximately 430,000 shares of its common stock from certain of its directors and officers at a price equal to the net proceeds per share that Aspen will receive from the offering, before expenses, to fund capital expenditures and for general corporate purposes.

Canaccord Genuity LLC is acting as the sole bookrunning manager of the offering.