Street Calls of the Week
Phoenix Education Partners Inc., parent company of The University of Phoenix Inc., priced its initial public offering at $32.00 per share, according to a company statement.
The offering consists of 4,250,000 shares being sold by existing shareholders. Underwriters received a 30-day option to purchase up to an additional 637,500 shares at the same price, less underwriting discounts and commissions.
The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "PXED" on October 9, 2025. The offering is expected to close on October 10, 2025, subject to customary closing conditions.
Morgan Stanley, Goldman Sachs & Co. LLC, BMO Capital Markets and Jefferies serve as lead book-running managers for the offering. Apollo Global Securities and Truist Securities act as joint book-running managers, while B. Riley Securities, Barrington Research, Loop Capital Markets, Academy Securities, Bancroft Capital and Siebert Williams Shank serve as co-managers.
The Securities and Exchange Commission declared the registration statement effective on September 30, 2025. Phoenix Education will not receive proceeds from the sale of shares by the selling shareholders.
The University of Phoenix, founded in 1976, provides online education programs for working adults and operates as a subsidiary of Phoenix Education Partners.