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Perdoceo Education Corporation's Strategic Merger with USAPC: December 2024 Insights

$PRDO
Form 8-K/A
Filed on: 2025-02-18
Source
Perdoceo Education Corporation's Strategic Merger with USAPC: December 2024 Insights

Here are the key insights extracted from the provided section of the financial report for Perdoceo Education Corporation:

  1. Company Identification:
  • Name: Perdoceo Education Corporation
  • CIK: 0001046568
  • Ticker Symbol: PRDO
  • Exchange: NASDAQ
  • Address: 1750 E. Golf Road, Schaumburg, IL 60173
  • Phone: 847-781-3600
  1. Transaction Overview:
  • Date of Transaction: December 2, 2024 (referred to as the "Closing Date").
  • Acquisition Target: University of St. Augustine Parent Corp. (USAPC).
  • Structure of Transaction: Merger with Lighthouse Merger Sub, Inc., a wholly-owned subsidiary of Perdoceo.
  • Surviving Entity: USAPC became a wholly-owned direct subsidiary of Perdoceo post-merger.
  1. Financial Details:
  • Purchase Price: $137.8 million in cash, subject to customary post-closing adjustments and escrow arrangements.
  1. Regulatory Filings:
  • Initial Filing: A Current Report on Form 8-K was filed on December 2, 2024, to disclose the consummation of the merger.
  • Amendment: This document serves as Amendment No. 1 to the initial Form 8-K, providing the required financial statements and pro forma financial information that were not included in the initial filing.
  • Disclosure Reminder: The Amended Form 8-K should be considered alongside the Initial Form 8-K and other SEC filings by the Company for comprehensive understanding.
  1. Additional Notes:
  • The Amended Form 8-K does not include updates or modifications to disclosures made after the Initial Form 8-K, indicating that the information presented is only up to the date of the initial filing.

This acquisition marks a significant strategic move for Perdoceo Education Corporation, potentially expanding its educational offerings and market presence in the health sciences sector. The cash transaction implies a solid commitment to growth through acquisition, which may impact future earnings and financial performance.