American Public University Inc., which runs online universities for military personnel, is announcing an initial public offering of stock. The Associated Press is reporting that the company plans to raise $79.6-million from the IPO by selling 4.69 million shares for $15 to $17 apiece. American Public University’s institutions enroll about 25,000 students, the vast majority of whom are serving in the armed forces. A date for the sale has not been set.
One other online institution has gone public. Capella University made an IPO in 2006 and has since seen its stock rise to more than $60 per share. And Blackboard Inc., a company that provides online course-management services, went public in 2004, resulting in its stock rising to more than $45 per share. —Dan Carnevale
