News Releases
Capella Education Company Announces Pricing of Offering of Common Stock
MINNEAPOLIS, May 10, 2007 - Capella Education Company (NASDAQ: CPLA), a provider of exclusively online post-secondary education through its wholly owned subsidiary Capella University, today announced the pricing of its offering of 3,485,000 shares of common stock at a price of $36.00 per share. Capella Education Company offered 299,201 shares of common stock and selling shareholders offered the remaining 3,185,799 shares. In addition, the Company and the selling shareholders have granted the underwriters the option to purchase up to an additional 44,880 and 477,870 shares, respectively, at the offering price to cover over-allotments. The proceeds from the sale of shares by the Company will be used to pay fees and expenses of the offering and for general corporate purposes. The Company will not receive any of the proceeds from the sale of shares by the selling shareholders.
The offering was made through an underwriting syndicate led by Credit Suisse Securities (USA) LLC. The other co-managing underwriters in the syndicate were Piper Jaffray & Co., Robert W. Baird & Co. Incorporated, Stifel, Nicolaus & Company, Incorporated and Signal Hill Capital Group LLC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.
A copy of the final prospectus related to this offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010 (Tel: 1-800-221-1037)
About Capella Education Company
Founded in 1991, Capella Education Company is an exclusively online post-secondary education services company. Through our wholly owned subsidiary, Capella University, regionally accredited by The Higher Learning Commission*, we offer a variety of doctoral, master's and bachelor's online degree programs, in the following disciplines: business, organization and management; education; psychology; human services; and information technology. Our academic offerings combine competency-based curricula with the convenience and flexibility of an online learning format. As of March 31, 2007, Capella University offered over 800 online courses and 16 academic programs with 82 specializations to approximately 19,200 learners.
*Capella University is accredited by The Higher Learning Commission and is a member of the North Central Association of Colleges and Schools (NCA), http://www.ncahlc.org.
Capella University, 225 South Sixth Street, Ninth Floor, Minneapolis, MN 55402, 1-888-CAPELLA (227-3552).