Grand Canyon Education Inc. (Nasdaq: LOPE), a Phoenix-based provider of online post-secondary education services, has to sell common stock via a secondary public offering. The company itself would sell just one million shares, while Endeavour Capital plans to sell an undisclosed number of its 10 million remaining shares.
Grand Canyon went public via an IPO last November, pricing its shares at $12 a piece. It closed trading yesterday at $18.56 per share. www.gcu.edu