Aspen Group (OTCBB: ASPU) is in The StockGuru Spotlight for Wednesday, September 10, 2014.
- Shares for ASPU are already up as much as 32%.
- Volume is 1.8 million shares traded.
- Volume is over FIVE times the typical volume average, and the day is still young.
Latest News from ASPU:
Aspen Group, Inc. Announces Closing of $5.4 Million Institutional Equity Offering
Aspen Group, Inc. (OTCBB: ASPU), parent of Aspen University, a nationally accredited online postsecondary education company, announced today the final closing of a $5.4 million private placement of equity securities to certain institutional and accredited investors.
The offering was led by Sophrosyne Capital and Charlestown Capital, together with new investors Leon G. Cooperman, Global Undervalued Securities Master Fund, LP, Taurus Capital Partners LLC, and Dillon Hill Capital.
Chairman and CEO Michael Mathews commented, “The proceeds from this transaction will be used for growth capital, to continue building world-class curriculum on our new Desire2Learn academic learning system, and for general corporate purposes, including, but not limited to, the early retirement of the Company’s outstanding debentures.”
Mathews further commented, “I could not be more pleased with the number, quality and reputations of the institutional investors participating in this capital raise. Aspen’s offering was well oversubscribed and now provides the Company with sufficient resources and capital to fund its long-term business plan.”