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.
A version of this article appeared in the December 19, 2007 edition of Education Week