secwatch.observer — SEC 8-K summary
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Issuer:     PERDOCEO EDUCATION Corp (PRDO)
CIK:        0001046568
Form:       8-K
Filed at:   2026-09-14T12:00:07+00:00
Accession:  0001193125-26-389857
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Perdoceo to acquire South University for up to $224M; close expected April 2027
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- Cash consideration: $130-150M at closing, $18M deferred over 24 months, up to $56M earn-out tied to 2027-2029 EBITDA.
- South University 2025 revenue ~$291M, adjusted operating income ~$34M; ~10,500 students served.
- Deal funded from cash on hand; not subject to financing; termination fee up to $20M if not closed by July 9, 2027.
- Perdoceo reaffirms FY2026 adjusted operating income outlook of $258M-$263M.
- Transaction expected to be immediately accretive to adjusted operating income from 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1046568/000119312526389857/0001193125-26-389857-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1046568/000119312526389857/d61984d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-389857

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer