Grand Canyon Education Files 8-K Report

TL;DR

GCPE filed a routine 8-K on 12/5/24. No major news.

AI Summary

On December 5, 2024, Grand Canyon Education, Inc. filed an 8-K report. The filing pertains to 'Other Events' and does not disclose specific financial transactions or significant corporate changes beyond its routine reporting.

Why It Matters

This filing indicates Grand Canyon Education, Inc. is meeting its regulatory reporting obligations with the SEC, but does not contain new material information for investors.

Risk Assessment

Risk Level: low — The filing is a standard 8-K report for 'Other Events' and does not contain any new material information that would indicate increased risk.

Key Players & Entities

• Grand Canyon Education, Inc. (company) — Registrant
• December 5, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $250.0 million — loans to GCU in the original amount of $250.0 million ($500.0 million in the aggregate) (each
• $500.0 million — the original amount of $250.0 million ($500.0 million in the aggregate) (each, a "Loan" and,
• $300.0 million — f the making of the Loans, GCU provided $300.0 million of its cash as collateral and the Compa
• $100.0 million — y pledged to each of MidFirst and Zions $100.0 million of the Company's available cash in orde
• $520.0 million — ng in the aggregate principal amount of $520.0 million and, as part of the use of proceeds the

Filing Documents

• lope-20241205x8k.htm (8-K) — 35KB
• 0001558370-24-016051.txt ( ) — 170KB
• lope-20241205.xsd (EX-101.SCH) — 3KB
• lope-20241205_lab.xml (EX-101.LAB) — 18KB
• lope-20241205_pre.xml (EX-101.PRE) — 13KB
• lope-20241205x8k_htm.xml (XML) — 5KB

01 Other Events

Item 8.01 Other Events. Grand Canyon Education, Inc., a Delaware corporation (the "Company") is a publicly traded education services company dedicated to serving colleges and universities. The Company's most significant university partner is Grand Canyon University ("GCU"), an Arizona non-profit corporation that operates a comprehensive regionally accredited university that offers graduate and undergraduate degree programs, emphases and certificates across ten colleges both online and on ground at its campus in Phoenix, Arizona and at eight off-campus classroom and laboratory sites. As previously reported, on October 1, 2024, GCU, entered into certain loan agreements (the "Loan Agreements") with MidFirst Bank, a federally chartered savings association ("MidFirst"), and Zions Bancorporation, N.A., dba National Bank of Arizona, ("NBAZ" and, together with MidFirst, the "Banks"), pursuant to which each Bank made loans to GCU in the original amount of $250.0 million ($500.0 million in the aggregate) (each, a "Loan" and, collectively, the "Loans"). The proceeds of the Loans were used by GCU to refinance outstanding bonds originally issued in 2021. The stated maturity date under the MidFirst Loan Agreement was October 1, 2026 and under the NBAZ Loan Agreement was April 1, 2025. The Loan Agreements provided for customary events of default and remedies. As a condition to the making of the Loans, each Bank required GCU to provide cash collateral in an amount equal to the principal balance of the Loan it provided. At the time of the making of the Loans, GCU provided $300.0 million of its cash as collateral and the Company offered to use some of its cash to provide the remaining collateral necessary for GCU to secure the Loans. In connection with the foregoing, the Company entered into (i) a Pledge and Security Agreement, by and between the Company and MidFirst, and (ii) a Security Agreement, by and between the Company and Zions (collectively, the "Pledge Agreements"), pur

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, thereunto duly authorized. GRAND CANYON EDUCATION, INC. Date: December 5, 2024 By: /s/ Daniel E. Bachus Daniel E. Bachus Chief Financial Officer (Principal Financial Officer)