Grand Canyon Staggers in Debut

Schachter, Ken
November 2008
Red Herring;11/20/2008, p4
Trade Publication
The article reports that the shares of Grand Canyon Education declined $0.23, or 2 percent, to $11.77 on November 13, 2008 after the online college staged the first U.S. initial public offering since August. Grand Canyon twice cut its price range in order to complete the 10.5 million share deal, ultimately pricing at $12 and raising $126 million. The Phoenix, Arizona-based school used 75 percent of gross proceeds to pay a special distribution to pre-IPO stockholders.


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