KKR Divests 32.8M Shares In Laureate Education Via Secondary Offering

Laureate Education Inc LAUR has priced the underwritten secondary offering by certain existing stockholders affiliated with Kohlberg Kravis Roberts & Co. L.P. of 32.8 million shares.
The Selling Stockholders have agreed to sell the shares at a public offering price of $9.75 per share.
The offer price represents a 3% discount on the company's $10.05 closing price on November 17 and a 20% discount on the November 15 closing price of $12.15, unaffected by the disclosure about KKR's offering of company shares.
The company is not selling any shares in the offering and will not receive any proceeds.
The offering is expected to close on November 22, 2022.
The company intends to repurchase 7.97 million shares out of the 32.84 million shares from the underwriters at a price per share of $9.409.
Price Action: LAUR shares are trading higher by 0.50% at $10.10 on the last check Friday.