Aspen Group reaffirms FY20 bookings guidance of at least $102M 08:1602/1902/19/20
Aspen Group reports 1,746 enrollments in Q3 » 08:1602/1902/19/20
Aspen Group announced…
Aspen Group announced third quarter new student enrollments of 1,746 in fiscal 2020 third quarter ending January 31, 2020, an increase of 28% year-over-year. Quarterly bookings increased 72% year-over-year from $15.5 million to $26.5 million. Consequently, total bookings for the first nine months of fiscal 2020 was $84.7 million, which on a run rate basis is on track to meet or exceed the company's forecast for fiscal 2020 bookings growth of 54% to $102M. For the third quarter of fiscal year 2020, Aspen University accounted for 1,371 new student enrollments delivering overall enrollment growth at Aspen University of 23% year-over-year. Enrollment growth at Aspen University was driven primarily by the Pre-Licensure BSN program as a result of a full quarter of enrollments at both Phoenix, AZ campuses, as compared to the prior year with only one campus open. United States University accounted for 375 new student enrollments in the quarter driven primarily by MSN-Family Nurse Practitioner enrollments, a 49% enrollment increase year-over-year. The improved year-over-year MER results were driven by declining cost of enrollment. Compared to the previous year, AGI's weighted average cost of enrollment declined 28%, from $1,373 to $989. On a year-over-year basis, fiscal Q3'20 bookings increased 72%, from $15.5 million to $26.5 million, delivering a company-wide average revenue per enrollment increase of 34%, from $11,352 to $15,199. AGI's overall active student body grew 32% year-over-year from 8,354 to 11,033. Aspen University's total active degree-seeking student body grew 25% year-over-year from 7,393 to 9,274. Aspen University students paying tuition and fees through a monthly payment method grew by 13% year-over-year, from 5,259 to 5,966, representing 64% of Aspen University's total active student body. On a year-over-year basis, USU's total active student body grew from 961 to 1,759 or 83%. USU students paying tuition and fees through a monthly payment method grew from 1,101 to 1,159 students sequentially representing 66% of USU's total active student body.
|Over a week ago|
Omega Advisors takes new positions in Ferro, Workday, exits Marathon Petroleum » 11:0502/1402/14/20
FOE, WDAY, IQV, SSSS, SMTS, MPC, CTVA, TMO, MNI, NET, DD, FANG, ET, COOP, CCL, TRWH, CIM, ASPS, AMCX, ASPU, FISV, GOOGL, CI, UAL, WPX
Leon Cooperman's Omega Advisors disclosed in an SEC filing its holdings as of December 31, 2019. Omega's five new buys during the fourth quarter were, by size of position, Ferro (FOE), Workday (WDAY), Iqvia (IQV), Sutter Rock (SSSS), and Sierra Metals (SMTS). Omega exited six positions during the quarter, including by size of previous position, Marathon Petroleum (MPC), Corteva (CTVA), Thermo Fisher Scientific (TMO), McClatchy (MNI), and Cloudflare (NET). Omega increased its stake in 20 holdings, including by size of previous position, DuPont (DD), Diamondback Energy (FANG), Energy Transfer (ET), Mr. Cooper Group (COOP), and Carnival (CCL). Omega reduced its stake in nine holdings, including by size of previous position, Twin River (TRWH), Chimera (CIM), Altisource Portfolio Solutions (ASPS), AMC Networks (AMCX), and Aspen Group (ASPU). Omega's top holdings as of December 31, 2019, in order of size, were Fiserv (FISV), Alphabet Class A (GOOGL), Cigna (CI), United Airlines (UAL), and WPX Energy (WPX).
Aspen Group announces pre-licensure BSN campuses in Tampa, Austin » 08:3802/1302/13/20
Aspen Group announced the…
Aspen Group announced the signing of definitive lease agreements for two new Aspen University Pre-Licensure BSN campus locations in Tampa, Florida and Austin, Texas. Aspen University has executed a definitive lease agreement for ten years to occupy approximately 30,000 square feet of the Tampa Oaks I property located at 12802 Tampa Oaks Boulevard. The building is visible from the intersection of Interstate 75 and East Fletcher Avenue, near the University of South Florida, providing visibility to approximately 126,500 cars per day. Aspen is targeting to begin its first semester at Tampa Oaks I in August 2020 in campus space formerly occupied by the University of Phoenix. Aspen University has executed an agreement with Bayfront Health, a regional network of seven hospitals and over 1,900 medical professionals on staff serving the residents of Florida's Gulf Coast to provide required clinical placements for Aspen's nursing students. In addition, clinical affiliation agreements have been signed in the Tampa metro with John Hopkins All Children's Hospital, Inc., Care Connections at Home, Global Nurse Network, LLC and The American National Red Cross. Prior to commencing its campus operations, Aspen is required to obtain approval by the Florida Board of Nursing and the Florida Commission on Independent Education. Initial required regulatory filings have been submitted. Aspen University has executed a definitive lease agreement for eight years to occupy approximately 22,000 square feet in a portion of the first floor of the Frontera Crossing office building located at 101 W. Louis Henna Boulevard in the Austin suburb of Round Rock. The building is situated at the junction of Interstate 35 and State Highway 45, one of the most heavily trafficked freeway exchanges in the metro with visibility to approximately 143,362 cars per day. Aspen is targeting to begin its first semester at Frontera Crossing in November 2020 in campus space formerly occupied by The Art Institute. Aspen has executed a clinical affiliation agreement with Baylor Scott & White Health - Central division, the largest not-for-profit healthcare system in Texas and one of the largest in the United States. Baylor Scott & White includes 48 hospitals, more than 800 patient care sites, more than 7,800 active physicians, over 47,000 employees and the Scott & White Health Plan. Aspen is working with the Texas Board of Nursing, the Texas Higher Education Coordinating Board, and the Texas Workforce Commission to complete their respective regulatory approval processes and is required to obtain approval from all agencies prior to commencing its campus operations. These new campuses will follow Aspen University's existing Pre-Licensure BSN model being executed in the Phoenix, Arizona metro campuses. This model operates a stand-alone campus running six semester starts per annum, implemented as an accelerated three-year program at a total cost of attendance less than $50,000.
|Over a month ago|
Aspen Group closes refinancing of secured $10M term loan » 16:1501/2301/23/20
"Aspen Group announced the closing of the refinancing of our secured $10M term loan bearing an interest rate of 12%. The Company has exchanged the secured $10M term loan for $10M of secured convertible notes at an interest rate of 7%." The convertible notes have a three year term and are convertible into Aspen Group common stock at a conversion price of $7.15 per share. The notes also have a mandatory conversion feature if the closing price of the common stock is at least 150% of the conversion price or $10.725 over a 20 consecutive trading day period, beginning July 20, 2022. As a result, the Company's annual interest expense will be reduced by approximately $500,000. The prior term notes were due in September 2020, subject to a one year extension and payment of a fee. For further details, please consult the Company's Form 8-K filed with the Securities and Exchange Commission on January 23, 2020. In addition to the issuance of the convertible notes, the Company yesterday announced the closing of an underwritten public offering of 2,415,000 shares of its common stock at a price to the public of $7.15 per share. Net proceeds from the offering to Aspen are approximately $16 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by Aspen. Canaccord Genuity LLC acted as the sole bookrunning manager of the offering. Craig-Hallum Capital Group LLC and Roth Capital Partners acted as lead managers of the offering. "These financing initiatives help to strengthen our balance sheet and support the Company's long-term strategic roadmap, and we are very pleased with the market reaction to the offering," commented Frank Cotroneo, Aspen Group Inc. Chief Financial Officer.
Aspen Group 2.1M share Spot Secondary priced at $7.15 » 08:5001/1701/17/20
Canaccord, Craig-Hallum and Roth Capital acted as joint book running managers for the offering.
Fly Intel: After Hours Movers » 18:4301/1601/16/20
PRGS, GPS, MDLA, CSX, OZK, ASPU
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Progress Software (PRGS) up 10.2%. ALSO HIGHER: The Gap (GPS) up 4.4% after pulling planned separation of Old Navy and guiding FY19 above prior forecast... Medallia (MDLA) up 1.5% after being initiated with Outperform at Baird. DOWN AFTER EARNINGS: CSX (CSX) down 3.5%... Bank OZK (OZK) down 2.3%. ALSO LOWER: Aspen Group (ASPU) down 5.8% after equity offering. Movers as of 18:30ET.
Aspen Group announces offering of common stock » 16:0801/1601/16/20
Aspen Group announced…
Aspen Group announced that Aspen intends to offer and sell shares of its common stock in an underwritten public offering. Aspen intends to use the net proceeds from this offering to pay for expansion of its BSN pre-licensure program and for general corporate purposes and working capital. Canaccord Genuity is acting as the sole bookrunning manager of the offering. Craig-Hallum Capital Group and Roth Capital Partners are acting as lead managers of the offering.
Aspen Group named a Top Pick for 2020 at Northland » 09:0401/0601/06/20
Northland analyst Mike…
Northland analyst Mike Grondahl named Outperform rated Aspen Group a Top Pick for 2020 given the continued push into higher LTV programs that will drive better growth and a better margin profile for the business. Grondahl believes management has done a good job recently and trends in the area of education are in Aspen's favor.
Aspen Group decides not to proceed with proposed public offering of common stock » 09:2712/1312/13/19
Aspen Group announced…
Aspen Group announced that it has determined not to proceed with the proposed public offering of its common stock previously announced on December 12, 2019. The determination results from an assessment by the Company's management that current equity market conditions are not conducive for an offering on terms that would be in the best interests of the Company's stockholders. The offering was being made pursuant to a shelf registration statement that was declared effective by the Securities and Exchange Commission on April 18, 2018.