Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Initial Public Offering
Baird served as co-manager of this offering.
Archipelago Learning (“Archipelago” or the “Company”) (NasdaqGM: ARCL) recently completed an initial public offering of 7,187,500 shares, including the over-allotment option, of common stock at a price of $16.50 per share, generating gross proceeds of $118.6 million for the Company. The proceeds received by the Company will be used for general corporate purposes.
Archipelago Learning, a leading subscription-based online education company, provides standards-based instruction, practice, assessments, and productivity tools that improve the performance of educators and students via proprietary web-based platforms. During the 2008-2009 school year, Archipelago products were utilized by approximately 8.9 million students in over 21,000 schools in 50 states who answered over 2.8 billion practice questions.