Advanced Academics Secures $7.5 Million Round of Financing; Investment Focused On Expansion Into Additional States and Enhancements of Course Offerings.Business Editors & Education Writers OKLAHOMA CITY--(BUSINESS WIRE)--June 6, 2002 Baxter Brings, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Advanced Academics Inc., an online learning company for students in grades seven through 12, announces today the company has secured $7.5 million in a Series B Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. financing. New investors were Council Ventures, of Nashville, Chrysalis chrysalis (krĭs`əlĭs): see pupa. Ventures, of Louisville, Ky.; and Prosperitas Investment Partners also of Louisville. Previous investors who participated in the financing were Chisholm Private Capital Partners and American Fidelity Group, both of Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm . "In a difficult environment for venture capital, I believe securing this level of financing sends a strong message about our achievements thus far, as well as the future of our business model," says Brings, who joined Advanced Academics after serving as president and CEO of Instructional Fair Group, a division of the Tribune Company The Tribune Company (NYSE: TRB) is a large American multimedia corporation based in Chicago, Illinois. It is the nation's second-largest newspaper publisher, responsible for the Chicago Tribune, Los Angeles Times, Newsday, Hartford Courant . "We have solidified our executive team with top talent in the education publishing industry, correlated our course offerings to more state standards, increased the number of states where we have certified our teachers, and continue to deliver the best possible online education experience for high school students." Since January 2002, Advanced Academics has added eight new states for operation: Alaska, Georgia, Michigan, Montana, New Jersey, Pennsylvania, Texas and Washington. Three recent new contracts include a pilot project with the Detroit Public School District, the Seattle Public School District, and the South Brunswick South Brunswick is the name of several places in the United States of America:
"We are extremely pleased to partner with Advanced Academics and are excited by the tremendous momentum generated by Baxter's leadership, the strong sales and marketing force and, of course, a superior online education product," says Gary Peat, partner at Council Ventures. "We're very confident that Advanced Academics has quickly earned the trust of American educators by offering a powerful, reliable technology that meets the needs of at-risk students The term at-risk students is used to describe students who are "at risk" of failing academically, for one or more of any several reasons. The term can be used to describe a wide variety of students, including,
The Advanced Academics model is designed so there is minimal district management required. The Advanced Academics staff of certified teachers A certified teacher is a teacher who has earned credentials from an authoritative source, such as the government, a higher education institution or a private source. These certifications allow teachers to teach in schools which require authorization in general, as well as allowing handles all aspects of the learning experience including course development, assessment, grading and 24/7 availability for interaction with the student via real-time chats, e-mail and phone calls. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Brings, the company also provides custom reporting and time monitoring of student activity that can be viewed online not only by the district, teacher and student, but also by parents and guardians. Advanced Academics also provides all data necessary for accreditation and funding, plus financial and audit records. According to Ron Walker Ronald Joseph Walker AC CBE (born September, 1939) is an Australian businessman renowned in Melbourne for his work in managing sporting events. History Walker attended Caulfield Grammar School,[1] and served as the Lord Mayor of Melbourne from 1974 to 1976. , area director, Oklahoma City Public School District, the Advanced Academics model will rapidly become the industry standard. "Advanced Academics has created a solid technology platform that can handle a large volume of students, they have full-time, certified teachers available 24 hours a day, and their curriculum meets school districts' rigid requirements," Walker says. "I'm most impressed by their dedication to be a true partner with American educators, to ensure we can reclaim at-risk students as well as boost opportunities for accelerated students and homeschoolers." To learn more about Advanced Academics, please visit us online at www.advancedacademics.com. |
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