Legacy Education Inc. Announces Pricing of Initial Public Offering
26 September 2024 - 2:00PM
Legacy Education Inc. (“Legacy Education” or the “Company”) (NYSE
American: LGCY), a for-profit post-secondary education company
offering a wide range of education programs and services to help
students achieve their professional goals, today announced the
pricing of its initial public offering (the “Offering”) of
2,500,000 shares of common stock at a price to the public of $4.00
per share, for gross proceeds of $10 million, before deducting
underwriting discounts and offering expenses. In addition, the
Company has granted the underwriters a 30-day option to purchase up
to an additional 375,000 shares of common stock from the Company to
cover any over-allotments at the public offering price, less the
underwriting discount.
The Company intends to use the net proceeds of
the Offering for investments at our facilities, for the development
of new programs, and for other general working capital
purposes.
The shares of common stock are expected to begin
trading on the NYSE American on September 26, 2024, under the
symbol “LGCY.” The Offering is expected to close on September 27,
2024, subject to the satisfaction of customary closing
conditions.
Northland Securities, Inc. is acting as sole
book-running manager for the Offering. Ladenburg Thalmann is acting
as lead manager for the Offering.
The Registration Statement on Form S-1 (File No.
333-281586) relating to the securities being sold in the Offering
was filed with the Securities and Exchange Commission (“SEC”) and
declared effective on September 25, 2024. The Offering is being
made only by means of a prospectus. Copies of the final prospectus,
when available, may be obtained from Northland Securities, Inc.,
150 South Fifth Street, Suite 3300, Minneapolis, MN and from
Ladenburg Thalmann at Prospectus Department, 640 Fifth Avenue, 4th
Floor, New York, NY 10019. The final prospectus will be filed with
the SEC and will be available on the SEC’s website located
at http://www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Legacy Education
Legacy Education (NYSE: LGCY) is an
award-winning, nationally accredited, for-profit post-secondary
education company founded in 2009. Legacy Education provides
career-focused education primarily in the healthcare field, with
degrees for nursing, medical technicians, dental assisting,
business administrative, and several others. The company offers a
wide range of educational programs and services to help students
achieve their professional goals. Legacy Education’s focus is on
providing high-quality education that is accessible and affordable.
Legacy Education is committed to growing education footprint via
organic enrollment growth, addition of new programs and accretive
acquisitions. For more information, please visit www.legacyed.com
or on LinkedIn @legacy-education-inc.
Forward Looking Statements
Statements in this press release about future
expectations, plans, and prospects, as well as any other statements
regarding matters that are not historical facts, may constitute
“forward-looking statements.” These statements include, but are not
limited to, statements relating to the expected trading
commencement and closing dates, expected use of proceeds, the
Company’s operations and business strategy and the Company’s
expected financial results. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,”
“would” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. The forward-looking
statements contained in this press release are based on
management’s current expectations and are subject to substantial
risks, uncertainty and changes in circumstances. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including the
uncertainties related to market conditions and the completion of
the IPO on the anticipated terms or at all, and other factors
discussed in the “Risk Factors” section of the prospectus filed
with the SEC. Any forward-looking statements contained in this
press release speak only as of the date hereof, and, except as
required by federal securities laws, the Company specifically
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
Contact Legacy Education Inc.LeeAnn Rohmann,
CEOlrohmann@legacyed.com
Amato and Partners, LLCInvestors Relations
Counciladmin@amatoandpartners.com
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