Grand Canyon Cuts IPO Price Again

Grand Canyon Education Inc., a Phoenix-based provider of online post-secondary education services, has again cut the IPO price range for its 10.5 million shares – this time from $16 and $18 per share to $12 and $14 per share.  It had originally planned to price at between $18 and $20 per share. Credit Suisse and Merrill Lynch are serving as co-lead underwriters for the offering, which is expected to price this week. Shareholders include Endeavour Capital (32.6% pre-IPO stake). www.gcu.edu