Market Overview

Strayer Education, Inc. Schedules Second Quarter 2018 Earnings Conference Call


Higher Learning Commission Issues Approval of Change of Ownership

Strayer Education, Inc. (NASDAQ:STRA) today announced that it will host
a conference call to discuss its second quarter earnings on Wednesday,
August 1, 2018 at 10:00 a.m. ET. A news release outlining the financial
results will be issued before the market opens the same day.

The Company also announced that Capella University received notice that
its regional accreditor, the Higher Learning Commission, has approved
the change of ownership of Capella University in connection with the
merger between Capella University's parent company, Capella Education
Company, and Strayer Education, Inc., the parent company of Strayer
University, which will change its name to Strategic Education, Inc. The
merger is expected to close on or before August 1, 2018.

To participate in the live call on August 1, investors should dial (877)
303-9047 ten minutes prior to the start time. In addition, the call will
be available via webcast. To access the live webcast of the conference
call, please go to
15 minutes prior to the start time of the call to register. Following
the call, the webcast will be available at

About Strayer Education, Inc.

Education, Inc.
(NASDAQ:STRA) is educating a more competitive and
qualified workforce by solving higher education's most challenging
problems. It includes Strayer
, a regionally accredited institution that delivers
affordable degree programs for working adults, and a Top
25 Princeton Review-ranked executive MBA program
through the Jack
Welch Management Institute
. Non-degree web and mobile application
development courses are offered through the New
York Code + Design Academy
. Strayer also transforms the workforces
of its corporate partners through customized degree and professional
development programs. By deploying innovative teaching methods and
technologies that enhance student learning outcomes, Strayer makes it
possible for working adults to acquire the skills they need to succeed
in today's rapidly changing economy.

Forward Looking Statements

This communication contains certain forward-looking statements made
pursuant to the Private Securities Litigation Reform Act of 1995 (the "Reform
"). Such statements may be identified by the use of words such
as "expect," "estimate," "assume," "believe," "anticipate," "will,"
"forecast," "outlook," "plan," "project," or similar words and may
include statements with respect to, among other things, the proposed
merger of a wholly-owned subsidiary of Strayer with and into Capella
(the "Merger"), including the expected
timing of completion of the Merger; the anticipated benefits of the
Merger, including estimated synergies; the combined company's plans,
objectives and expectations; future financial and operating results; and
other statements that are not historical facts. The statements are based
on Strayer's and Capella's current expectations and are subject to a
number of assumptions, uncertainties and risks. In connection with the
safe-harbor provisions of the Reform Act, Strayer and Capella have
identified important factors that could cause Strayer's or Capella's
actual results to differ materially from those expressed in or implied
by such statements. The assumptions, uncertainties and risks include:

Risks Related to the Merger:

  • the risk that the Merger may not be completed in a timely manner or at
    all due to the failure to satisfy conditions to completion of the
  • the occurrence of any event, change or other circumstance that could
    give rise to the termination of the merger agreement;
  • the outcome of any legal proceeding that may be instituted against
    Strayer, Capella and others following the announcement of the Merger;
  • the amount of the costs, fees, expenses and charges related to the
  • the risk that the benefits of the Merger, including expected
    synergies, may not be fully realized or may take longer to realize
    than expected;
  • the risk that the Merger may not advance the combined company's
    business strategy and growth strategy;
  • the risk that the combined company may experience difficulty
    integrating Strayer's and Capella's employees or operations;
  • the potential diversion of Strayer's and Capella's management's
    attention resulting from the proposed Merger; and
  • other risks and uncertainties identified in Strayer's and Capella's
    filings with the SEC;

Risks Related to Our Business:

  • the pace of growth of student enrollment;
  • our continued compliance with Title IV of the Higher Education Act,
    and the regulations thereunder, as well as regional accreditation
    standards and state regulatory requirements;
  • rulemaking by the Department of Education and increased focus by the
    U.S. Congress on for-profit education institutions;
  • competitive factors;
  • risks associated with the opening of new campuses;
  • risks associated with the offering of new educational programs and
    adapting to other changes;
  • risks relating to the timing of regulatory approvals;
  • our ability to implement our growth strategy;
  • risks associated with the ability of our students to finance their
    education in a timely manner; and
  • general economic and market conditions.

Actual results may differ materially from those projected in the
forward-looking statements. Strayer and Capella undertake no obligation
to update or revise forward-looking statements.

Additional Information and Where to Find It

Investors and security holders are urged to carefully review and
consider each of Strayer's and Capella's public filings with the
Securities and Exchange Commission (the "SEC"),
including but not limited to their Annual Reports on Form 10-K, their
proxy statements, their Current Reports on Form 8-K and their Quarterly
Reports on Form 10-Q. The documents filed by Strayer with the SEC may be
obtained free of charge at Strayer's website at,
in the "Investor Relations" tab at the top of the page, or at the SEC's
website at
These documents may also be obtained free of charge from Strayer by
requesting them in writing to 2303 Dulles Station Boulevard, Herndon, VA
20171. The documents filed by Capella with the SEC may be obtained free
of charge at Capella's website at,
in the "Investor Relations" tab at the top of the page, or at the SEC's
website at
These documents may also be obtained free of charge from Capella by
requesting them in writing to 225 South 6th Street, 9th Floor,
Minneapolis, Minnesota 55402.

In connection with the proposed Merger, on November 20, 2017, Strayer
filed a registration statement on Form S-4 with the SEC which included a
joint proxy statement of Strayer and Capella and a prospectus of
Strayer. The registration statement was amended on December 4, 2017 and
declared effective on December 8, 2017. On January 19, 2018 at their
respective special meetings, Strayer's stockholders approved the
issuance of Strayer common stock and the amendment and restatement of
Strayer's charter, each in connection with the Merger, and Capella
shareholders approved the Agreement and Plan of Merger, dated as of
October 29, 2017, by and among Strayer, Capella and Sarg Sub Inc.
THE PROPOSED MERGER. Investors and security holders can obtain the
registration statement and the joint proxy statement/prospectus free of
charge from the SEC's website or from Strayer or Capella as described
above. The contents of the websites referenced above are not deemed to
be incorporated by reference into the registration statement or the
joint proxy statement/prospectus.

No Offer or Solicitations

This press release shall not constitute an offer to sell or buy or the
solicitation of an offer to buy or sell any securities, nor shall there
be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. No
offering of securities shall be made except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933.

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