Phoenix Education Partners, which provides post-secondary education services under the name University of Phoenix, raised $136 million by offering 4.3 million shares (100% secondary) at $32, the midpoint of the $31 to $33 range.
Through the University of Phoenix, the company provides post-secondary education, primarily to working adults seeking to advance their careers. The University currently offers 72 degree-granting and 33 non-degree certificate programs across a wide range of disciplines. For the fiscal year ended August 31, 2024, the Average Total Degreed Enrollment was 78,900, including 64,100 undergraduate and 14,800 graduate students.
Formerly Apollo Education Group, Phoenix Education was taken private by Apollo Global in a buyout completed in February 2017.
The Phoenix, AZ-based company plans to list on the NYSE under the symbol PXED. Morgan Stanley, Goldman Sachs, BMO Capital Markets, Jefferies, Apollo Global Securities, and Truist Securities acted as joint bookrunners on the deal.
