Nobel Learning Communities, Inc. Announces Closing of Merger
August 09 2011 - 4:01PM
Marketwired
Nobel Learning Communities, Inc. (NASDAQ: NLCI) ("Nobel Learning"
or the "Company"), a leading operator of private preschools,
elementary schools, middle schools and K-12 online distance
learning, today announced that the previously announced acquisition
of the Company by an affiliate of Leeds Equity Partners ("Leeds
Equity") has been consummated. As a result of the consummation of
the acquisition, the Company's common stock will no longer be
publicly traded on the NASDAQ Global Market.
The acquisition was approved by the Company's stockholders on
August 2, 2011. The Company's Stockholders will receive $11.75 in
cash, without interest, for each share of the Company's common
stock that they owned (other than for shares of Common Stock held
by Stockholders who have properly demanded appraisal rights under
Delaware law). The Company also purchased all options outstanding
under the 1995 Stock Incentive Plan and our 2004 Omnibus Incentive
Equity Compensation Plan that were tendered in connection with the
consummation of the acquisition.
About Nobel Learning Nobel Learning
operates a national network of over 180 nonsectarian private Pre-K
and K+ schools and a global K-12 online distance learning
community. All Nobel Learning schools are dedicated to providing a
high-quality private education, through small class sizes, caring
and skilled teachers, and attention to individual learning styles.
Nobel Learning also offers an array of supplemental educational
services, including before- and after-school programs, the Camp
Zone® summer program, learning support programs, and specialty
schools. For additional information, please visit
www.NobelLearning.com.
About Leeds Equity Leeds Equity is a New
York-based private equity firm focused exclusively on investing in
the education, training and information services industries. The
firm was founded by Jeffrey T. Leeds and Robert A. Bernstein in
1993 and has raised and managed over $1.1 billion of capital across
five funds.
The Board of Advisors of Leeds Equity includes, among others,
General Colin L. Powell, former Secretary of State, National
Security Advisor, and Chairman of the Joint Chiefs of Staff; Dr.
Barry A. Munitz, former Chancellor of the California State
University school system and CEO of the J. Paul Getty Trust; Thomas
F. ("Mack") McLarty III, President of McLarty Associates and former
White House Chief of Staff under President William J. Clinton; Dr.
Rod R. Paige, former Secretary of Education under President George
W. Bush; Richard W. Riley, former Secretary of Education under
President William J. Clinton and two-term Governor of South
Carolina; Tim J. Fitzpatrick, the former CEO of Sallie Mae
Corporation; and Timothy P. Shriver, Chairman of the Board of the
Special Olympics. For additional information on Leeds Equity,
please visit www.leedsequity.com.
The Company's logo and product names are also trademarks or
registered trademarks of Nobel Learning Communities, Inc. Other
product and brand names are trademarks of their respective
owners.
NLCI - G NLCI - F
For: Nobel Learning Communities, Inc. Tom Frank Chief
Financial Officer 484-947-2000
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