News in Brief
Online-Course Provider K12 Inc. Goes Public to Expand Reach
The online course provider K12 Inc. became a public company last week, issuing 6 million shares at an initial share price of $18.
Ronald J. Packard, the founder and chief executive officer, said in a Dec. 13 interview that the $108 million in proceeds from issuing the stock would “accelerate the growth rate of the number of children we serve” and fuel plans to expand internationally.
The Herndon, Va.-based company said it provides its online curriculum and educational services to 39,500 K-12 students in 17 states, many through publicly funded virtual charter schools.
The company is listed on the New York Stock Exchange by the ticker symbol LRN.
Vol. 27, Issue 16, Page 4