SAN FRANCISCO, December 14, 2007 – ThinkEquity Partners, a wholly owned subsidiary of London-based Panmure Gordon & Co (PMR.L), is pleased to advise of the successful IPO of leading on-line education provider, K12 Inc (NYSE: LRN).
ThinkEquity was co-manager of the float.
The IPO was priced at $18.00 per share and 6 million shares were issued.
“In the US, the education sector is doing exceptionally well. The K12 Inc IPO comes after the very successful IPO of American Public Education in which ThinkEquity was also co-manager. In Q3 we also lead-managed the secondary raising for Scientific Learning,” said Deborah Quazzo, head of investment banking and president, ThinkEquity Partners.
“ThinkEquity continues to build excellent franchises in growth stock sectors and the education team is proving its ability to help bring great education businesses to market. The sector will be a significant focus for the ThinkEquity team in the New Year,” she said.
K12.com is a provider of proprietary curriculum and education services created for on-line delivery to students in kindergarten through to 12th grade. More than 39,500 students in the U.S. are using the K12 learning program in 17 statewide on-line schools and other e-learning programs across the country.