Shares to Begin Trading on NYSE Arca on December 13, 2007 Under
Ticker Symbol "LRN"
NEW YORK--(BUSINESS WIRE)--Dec. 12, 2007--K12 Inc., a leading
provider of proprietary curriculum and educational services created
for online delivery to students in kindergarten through 12th grade,
today announced that it has priced its initial public offering of
6,000,000 Common Shares at $18.00 per share. The shares will begin
trading on Thursday, December 13, 2007, on NYSE Arca under the symbol
"LRN."
The offering comprises an initial public offering of 4,450,000
shares by K12 and an additional offering of 1,550,000 shares by
certain selling shareholders of K12 disclosed in the prospectus. The
underwriters have an option, exercisable for 30 days from the date of
the prospectus, to purchase up to an additional 900,000 shares from
the selling shareholders at the initial public offering price, less
the underwriting discounts and commissions, to cover over-allotments
of the offering.
Morgan Stanley & Co. Incorporated and Credit Suisse Securities
(USA) LLC acted as joint book runners for the offering. A copy of the
prospectus relating to the offering may be obtained by contacting
either firm:
Morgan Stanley & Co. Incorporated, Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014; telephone:
1-866-718-1649 or email: [email protected]
Credit Suisse Securities (USA) LLC, Prospectus Department, One
Madison Avenue 1B, New York, NY 10010; telephone: 1-800-221-1037.
About K12 Inc.
K12 Inc., a technology-based education company, is a leading
national provider of proprietary curriculum and educational services
created for online delivery to students in kindergarten through 12th
grade, or K-12. Its mission is to maximize a child's potential by
providing access to an engaging and effective education, regardless of
geographic location or socio-economic background.
More than 39,500 students are using the K12 learning program in 17
statewide online schools and other e-learning programs across the
country.
K12 offers education solutions for students using an outstanding,
highly effective curriculum that enables mastery of core concepts and
skills for students of all abilities. The K12 program combines a
cognitive research-based curriculum with an individualized learning
approach for online schools and other educational applications.
K12 Inc. is headquartered in Herndon, Virginia, U.S.A.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
CONTACT: K12 Inc.
Jeff Kwitowski, 703-483-7281
202-669-1777 (mobile)
[email protected]
or
Hill & Knowlton (New York)
Athanasia Sfikas, 212-885-0415
[email protected]
SOURCE: K12 Inc.