K12 orchestrates $125.84 million private placement of common shares

Company sells 4 million shares at $31.46 apiece to an investment group

By Devika Patel

Knoxville, Tenn., April 18 - K12 Inc. arranged a $125.84 million private placement of stock on April 13, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company will sell 4 million common shares at $31.46 per share to TCV VII, LP, TCV VII (A), LP, TCV Member Fund, LP and TCMI, Inc. The price per share is an 8.17% discount to $34.26, the April 12 closing share price.

K12 is a technology-based education company with headquarters in Herndon, Va.

Issuer:	K12 Inc.
Issue:	Common stock
Amount:	$125.84 million
Shares:	4 million
Price:	$31.46
Warrants:	No
Investors:	TCV VII, LP, TCV VII (A), LP, TCV Member Fund, LP and TCMI, Inc.
Pricing date:	April 13
Stock symbol:	NYSE: LRN
Stock price:	$34.18 at close April 13
Market capitalization:	$1.12 billion

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