UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01Other Events.
On September 10, 2021, Perdoceo Education Corporation (the “Company”), through its wholly-owned subsidiary Colorado Technical University, Inc., acquired Hippo Education, LLC (“Hippo”). Hippo is a provider of continuing medical education and exam preparation for medical professionals with a quality technology platform and strong course content. The acquisition of Hippo expands the Company’s healthcare program offerings in line with the Company’s objective of extending the breadth and depth of its academic program offerings. Since its inception in 2011, Hippo has grown and currently serves approximately 40,000 learners across a variety of medical disciplines. Hippo’s physician founder will continue to serve Hippo in a leadership capacity under the Company’s ownership. Pursuant to the terms of the acquisition agreement, the initial cash consideration of approximately $42.0 million was funded with the Company’s available cash balances on the date of acquisition.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PERDOCEO EDUCATION CORPORATION |
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By: |
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/s/ Ashish R. Ghia |
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Ashish R. Ghia |
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Senior Vice President and Chief Financial |
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Officer |
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Dated: |
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September 14, 2021 |
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