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K12 Sets IPO Terms

K12 Inc., a Herndon, Va.-based provider of online education curricula and learning programs, has set its IPO terms to six million common shares being offered at between $16 and $18 per share. It would have an initial market cap of approximately $490 million, were it to price at the high end of its range. K12 plans to trade on the NYSE under ticker symbol LRN, with Morgan Stanley and Credit Suisse serving as co-lead underwriters. It has raised around $45 million in VC funding, from firms like Constellation Ventures. www.k12.com