果冻APP传媒 Group Announces Proposed Public Offering of Common Stock
NEW YORK, Dec. 12, 2019 (GLOBE NEWSWIRE) -- (NASDAQGM: ASPU) (鈥渢he Company鈥� or 鈥淎GI鈥�), an education technology holding company, today announced that 果冻APP传媒 intends to offer and sell shares of its common stock in an underwritten public offering. 果冻APP传媒 also expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of shares of common stock offered in the public offering.聽 There can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering.
果冻APP传媒 intends to use the net proceeds from this offering for potential repayment of debt, to repurchase and retire approximately 430,000 shares of its common stock from certain of its directors and officers at a price equal to the net proceeds per share that 果冻APP传媒 will receive from the offering, before expenses, to fund capital expenditures and for general corporate purposes.聽
Canaccord Genuity LLC is acting as the sole bookrunning manager of the offering.
The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-224230) declared effective by the Securities and Exchange Commission on April 18, 2018. A prospectus supplement and accompanying base prospectus relating to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the Securities and Exchange Commission at , or from Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at (617) 371-3900, or by email at .
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.
About 果冻APP传媒 Group, Inc.:
果冻APP传媒 Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, 果冻APP传媒 University and United States University, to deliver on the vision of making college affordable again.
Safe Harbor Statement
Statements made in this release and in AGI鈥檚 other public filings and releases that are not historical facts or that include forward-looking terminology, including expectations on the completion, timing and size of the proposed public offering and the anticipated use of proceeds therefrom, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties associated with market conditions and the completion of the proposed offering, as well as risks and uncertainties inherent in AGI鈥檚 business, including those described in its Annual Report on Form 10-K for the year ended April 30, 2019, its Quarterly Report on Form 10-Q for the three months ended July 31, 2019 and in the section entitled 鈥淩isk Factors鈥� in AGI鈥檚 Form S-3 shelf registration statement referred to above and in the preliminary prospectus supplement related to the proposed public offering to be filed with the Securities and Exchange Commission. Factors or events that could cause AGI鈥檚 actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Relations Contact:
Kim Rogers
Managing Director
Hayden IR
385-831-7337听
Released December 12, 2019