Wynnefield sells 315,000 shares of Nobel Learning, keeps 9.85% stake

By Lisa Kerner

Charlotte, N.C., May 4 - Nobel Learning Communities, Inc. investors led by Wynnefield Capital, Inc. sold 315,000 shares of the company's stock on April 24 for $11.35 per share, it was reported in a schedule 13D/A filed on Monday with the Securities and Exchange Commission.

Wynnefield beneficially owns 1,030,139 shares or 9.85% of Nobel's outstanding stock.

In October 2008, Wynnefield urged Nobel's special committee to engage in direct discussions with Knowledge Learning Corp. about its $17-per-share acquisition offer.

Nobel rejected a revised proposal from Knowledge in March to acquire the company for $13.50 per share.

Wynnefield had also encouraged the board to explore other potential strategic and financial alternatives, a prior SEC said.

Nobel Learning is a national network of 178 nonsectarian private schools, including preschools, elementary schools and middle schools, in 15 states. The company is located in West Chester, Pa.

Knowledge Learning is an early childhood and school-age education and care company based in Portland, Ore.

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