Lincoln Educational Services to be Acquired for $4.80/Share

Ticker: LINC · Form: 8-K · Filed: Mar 19, 2024 · CIK: 1286613

Sentiment: neutral

Topics: acquisition, going-private, merger

TL;DR

Lincoln Educational Services going private in a $4.80/share cash deal with BPEA EQT.

AI Summary

Lincoln Educational Services Corp. announced on March 19, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of BPEA EQT for approximately $4.80 per share in cash. This transaction is expected to close in the second half of 2024, subject to customary closing conditions. The acquisition will result in Lincoln Educational Services Corp. becoming a privately held company.

Why It Matters

This acquisition signifies a shift for Lincoln Educational Services from a publicly traded entity to private ownership, which could impact its strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — The deal is subject to customary closing conditions, and the market's reaction to the acquisition price and terms could influence the stock.

Key Numbers

Key Players & Entities

FAQ

What is the total value of the acquisition?

The filing does not explicitly state the total value of the acquisition, but it is based on a price of $4.80 per share.

Who is acquiring Lincoln Educational Services?

An affiliate of BPEA EQT is acquiring Lincoln Educational Services.

When is the acquisition expected to close?

The acquisition is expected to close in the second half of 2024.

What is the nature of the transaction?

Lincoln Educational Services Corporation has entered into a definitive agreement to be acquired, transitioning it to a privately held company.

Are there any conditions to closing the acquisition?

Yes, the transaction is subject to customary closing conditions.

Filing Stats: 658 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-03-19 16:24:50

Filing Documents

01

Item 7.01 Regulation FD Disclosure. On March 19, 2024, Lincoln Educational Services Corporation (the "Company") hosted an Investor Day. The Company issued a press release related to the Investor Day on the same date, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference into this Item 7.01. As previously announced, a live webcast and a presentation will be available on Lincoln's website at lincolntech.edu and a replay of the webcast will be available for 90 days following the event at lincolntech.edu . These materials are included as Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K and are incorporated by reference into this Item 7.01. The information in this Item 7.01, including Exhibits 99.1 and 99.2, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. A copy of the press release and Investor Day Presentation issued by the Company on March 19, 2024 is furnished as Exhibit 99.1 and 99.2 to this Current Report on Form 8-K and is incorporated in this Item 7.01 by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Exhibit Title 99.1 Press Release, dated March 19, 2024, issued by Lincoln Educational Services Corporation as to the Investor Day. 99.2 Investor Day Presentation 104 Cover Page Interactive Data File — the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LINCOLN EDUCATIONAL SERVICES CORPORATION Date: March 19, 2024 By: /s/ Brian K. Meyers Name: Brian K. Meyers Title: Executive Vice President, Chief Financial Officer and Treasurer

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