Grand Canyon Education Cuts IPO Price Range

Grand Canyon Education Inc., a Phoenix-based provider of online post-secondary education services, has cut its IPO price range from $18-$20 per share to $16-$18 per share. It still plans to offer 10.5 million shares, with Credit Suisse and Merrill Lynch serving as co-lead underwriters. Shareholders include Endeavour Capital (32.6% pre-IPO stake). www.gcu.edu