KKR Divests 32.8M Shares In Laureate Education Via Secondary Offering

  • Laureate Education Inc LAUR has priced the underwritten secondary offering by certain existing stockholders affiliated with Kohlberg Kravis Roberts & Co. L.P. of 32.8 million shares.
  • The Selling Stockholders have agreed to sell the shares at a public offering price of $9.75 per share. 
  • The offer price represents a 3% discount on the company's $10.05 closing price on November 17 and a 20% discount on the November 15 closing price of $12.15, unaffected by the disclosure about KKR's offering of company shares.
  • The company is not selling any shares in the offering and will not receive any proceeds.
  • The offering is expected to close on November 22, 2022.
  • The company intends to repurchase 7.97 million shares out of the 32.84 million shares from the underwriters at a price per share of $9.409.
  • Price Action: LAUR shares are trading higher by 0.50% at $10.10 on the last check Friday.
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