Capella Education Company Defers Pricing of Its Planned Offering of Common Stock.MINNEAPOLIS -- Capella Education Company Capella Education Company (NASDAQ: CPLA) is an education services holding company which owns for-profit, online Capella University and other assets. What is now the Capella Education Company was founded in 1991 by Stephen Shank, former CEO of Tonka Corporation. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPLA CPLA Certified Public Library Administrator cPLA cytoplasmic phospholipase A 2 CPLA Cordillera People’s Liberation Army CPLA Chinese People's Liberation Army CPLA Consumer Packaging and Labelling Act CPLA Commercial Pilot Licence ), a provider of exclusively online post-secondary education through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Capella University, today announced that it has deferred at the current time the pricing of its planned follow-on offering Follow-On Offering An offering of additional shares after a company has had an initial public offering. Notes: This sometimes means the company is strapped for cash. So they need to issue more shares to pay bills or finance a new project. of common stock. "We are very pleased with the quality of dialogue in our meetings with investors," said Stephen Shank, Chairman 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 Capella. "Until we have fully completed our internal review and filed our response to the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Attorney General's office, we believe it is prudent to defer our offering of common stock at this time," concluded Shank. The Company is currently gathering facts in response to the April 9th request by the State of New York Office of the Attorney General. The Attorney General's inquiry, which is focused on potential conflicts of interest in the student loan industry, has requested information regarding certain matters, including a consulting arrangement that Capella's Director of Financial Aid participated in from late 2005 to early 2006 with Student Loan Xpress, one of 15 institutions listed as recommended lenders for student loans by Capella. The Company is responding to the Attorney General's Office and is conducting its own internal review and expects to file a response with Attorney General during the week of April 23, 2007. "We take the issue raised by the New York Attorney General seriously and remain committed to the highest standards of quality and integrity," said Shank. "We want to thoroughly review and validate all the facts surrounding the Company's recommended lender list, and to be able to share our findings with the Office of the New York Attorney General and investors," concluded Shank. Forward-Looking Statements Certain information in this news release does not relate to historical financial information, including statements relating to our future prospects and our expectations regarding the inquiry currently being conducted by the New York Attorney General and our related internal review of financial aid practices, including the timing of our response to the New York Attorney General, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The company cautions investors not to place undue reliance on any such forward-looking statements, which are based on information available at the time those statements are made or management's good faith belief as of that time with regard to future events, and should not be read as a guarantee of future performance or results. Such statements are subject to certain risks and uncertainties that could cause the company's actual results in the future to differ materially from its historical results and those presently anticipated or projected. The company undertakes no obligation to update its forward-looking statements to reflect events or circumstances arising after such date. Factors that could cause the company's results to differ materially from those contained in its forward-looking statements are included under, among others, the heading "Risk Factors" in our Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and our most recent Form S-1 on file with the Securities and Exchange Commission and other documents filed by the company with the Securities and Exchange Commission. About Capella Education Company Founded in 1991, Capella Education Company is an exclusively online post-secondary education services company. Through our wholly owned subsidiary, Capella University, regionally accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. by The Higher Learning Commission(a), we offer a variety of doctoral, master's and bachelor's online degree programs, in the following disciplines: business, organization and management; education; psychology; human services; and information technology. Our academic offerings combine competency-based curricula with the convenience and flexibility of an online learning format. As of December 31, 2006, Capella University offered over 760 online courses and 13 academic programs with 75 specializations to approximately 18,000 learners. (a)Capella University is accredited by The Higher Learning Commission and is a member of the North Central Association of Colleges and Schools The North Central Association of Colleges and Schools (NCA) is one of six regional accreditation organizations recognized by the United States Department of Education and Council for Higher Education Accreditation. (NCA (Network Computing Architecture) An architecture from Oracle for developing applications within a networked computing environment. It provides a three-tier distributed environment based on CORBA that uses program components known as "cartridges. ), http://www.ncahlc.org. Capella University, 225 South Sixth Street, Ninth Floor, Minneapolis, MN 55402, 1-888-CAPELLA (227-3552). |
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