Palm Beach Gardens, Fla. — Nason Yeager, a full service law firm with offices in Palm Beach Gardens and Boca Raton, represented New York-based post-secondary education company Aspen
Group, Inc. (Nasdaq: ASPU) in a public offering that raised $23 million. Shareholder, Michael Harris, led the legal team which included Brian Bernstein and Elizaveta Ivanova.
Aspen Group sold 2,800,000 shares, which the public purchased at $7.15 per share. Shortly after the closing, the underwriter exercised its over-allotment option and purchased another 420,000 shares, which were sold to investors at the same public offering price of $7.15. Roth Capital Partners was the sole underwriter for the offering.
In December 2017, Harris and his team, including David Gellen, Brian Bernstein and Patricia Chronicle, worked with Aspen Group to complete the company’s acquisition of United States University in a transaction comprised of cash, stock, forgiveness of debt and the issuance of a $2 million convertible note. The legal work included preparing a letter of intent, asset purchase agreement, financing and closing documents.
“We are delighted with the growth of our securities and corporate practices,” said Harris. “Since David Gellen joined us in March 2017, we have added two securities and one corporate associate. The small cap and microcap markets are growing again, benefiting from streamlined reporting requirements as well as the strong economy.”
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About Nason Yeager Gerson White & Lioce, P.A.
Founded in 1960, Nason Yeager is a full-service law firm geared to helping its clients achieve their goals. With offices in Palm Beach Gardens and Boca Raton, the firm focuses on corporate transactions, securities filing and compliance, litigation, real estate, environmental and land use, administrative and governmental, lender representation, tax and wealth preservation, healthcare, utilities and family law. The firm is rated AV by Martindale-Hubbell and has been recognized as one of the Top Law Firms in the United States. To find more information on Nason Yeager, visit http://nasonyeager.com/ or call 561-686-3307.
About Aspen Group, Inc.:
Aspen Group, Inc. is a publicly held, for-profit post-secondary education company headquartered in New York, NY. It owns two accredited universities, Aspen University Inc. and United States University, Inc. with operations in Scottsdale, AR, Denver, CO and San Diego, CA. Aspen Group’s vision is to make college affordable again in America.