Aspen Group, Inc. Announces Early Retirement of $10 million Credit Facility
Aspen Group Inc. (ASPU)
NASDAQ:AMEX Investor Relations:
ir.aspen.edu
Company Research
Source: GlobeNewswire
NEW YORK, April 24, 2018 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (Nasdaq:ASPU), a post-secondary education company, today announced the early retirement of its $10 million senior secured term loan with Runway Growth Credit Fund, of which $7.5 million was previously drawn down. The total payoff amount was approximately $8.1 million, which included early termination and closing fees. The impact of these fees, plus the write-off of approximately $700,000 in debt discount, will result in a one-time EPS loss in fiscal Q4 of approximately $0.09 using the weighted average outstanding shares for the year. The Company projects to end the April 30, 2018 fiscal year with approximately $13 million of cash on its balance sheet. 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 and United States University. Aspen Group’s vision is to make college afford
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