Nelnet to receive ~$410M in ALLO redemption, pre-tax gain of ~$175M; ownership drops to 26%

NELNET INC

Nelnet expects aggregate cash proceeds of approximately $410 million from ALLO membership unit redemption.
Pre-tax gain of approximately $175 million recognized upon closing of the transaction.
Nelnet's ownership in ALLO decreases from 45% to approximately 26% post-closing.
Transaction expected to close in late May 2025, subject to customary closing conditions.
Nelnet will no longer own preferred interests but retains significant voting equity stake.

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