Archipelago Learning Sets IPO Terms

Archipelago Learning Inc., a Dallas-based provider of online education tools and services, has set its IPO terms to 6.25 million common shares being offered at between $15 and $17 per share. It would have an initial market cap of approximately $427 million, were it to price at the high end of its range.

The company plans to trade on the Nasdaq under ticker symbol ARCL, with BoA Merrill Lynch and William Blair & Co. serving as co-lead underwriters. Providence Equity Partners acquired a majority stake in Archipelago Learning in January 2007, for $84.5 million. It currently holds a 70.1% position.