Aspen Group falls on planned stock offering

Aspen

17/01/2020 13:25

** Aspen Group Inc  ASPU.O  shares down 6.3% to $7.46
premarket as education tech co looks to raise equity
    ** ASPU after the bell Thurs announced stock offering to pay
for expansion of its BSN pre-licensure program and for general
corp purposes; deal size not disclosed  urn:newsml:reuters.com:*:nGNX8y6t6m
    ** Canaccord Genuity sole bookrunner for offering
    ** Aspen has ~19.2 mln shares outstanding and ~16.9 mln
shares of free float, per Refinitiv data
    ** Co in mid-Dec scrapped a planned equity offering when its
stock was trading around $7.50  urn:newsml:reuters.com:*:nFWN28N0K0
    ** ASPU closed Thurs session down 4.1% at $7.96. Stock has
gained 67% over past one year
    ** All 5 analysts covering ASPU recommend buying the stock;
median PT is $11 (Refinitiv data)

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