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Education Management Corporation EDMC IPO today

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(Update 2) It appears EDMC IPO had warm reception. After all, it’s backed by Goldman (both as investor and IPO underwriter). Also from Reuters.

(Update) BTW, I found Echo Global Logistics IPO to be much more interesting, will write it up soon.

(Original) Priced at $18 a piece (Reuters), quote:

EDMC (web site), a provider of post-secondary education, said on Thursday that shares in its initial public offering priced for $18 each, at the bottom of the range.

The private equity backed company sold 20 million shares and said it expects net proceeds of $334.8 million. (My comment: 20 m shares is about 17% of the company, this priced EDMC roughly at $2 b).

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