Laureate Education closes $1.48B sale of Walden Group to Adtalem

LAUREATE EDUCATION, INC.

Total cash purchase price $1,480M; net proceeds after transaction costs ~$1,649M.
Release of ~$83.6M restricted cash collateralizing U.S. Dept. of Education letters of credit.
Estimated after-tax gain on sale of ~$809M based on June 30, 2021 carrying value.
Walden CEO Paula Singer departs; receives $1.377M severance plus $128K prorated bonus and equity acceleration.

item 2.01 item 9.01 item 5.02

Executive movements

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Departed

Paula Singer

CEO, Walden and Laureate Online Partners

LAUR · LAUREATE EDUCATION, INC.

Filed: August 12, 2021, 7:59 PM ET

On August 11, 2021, the Company and Paula Singer, CEO, Walden and Laureate Online Partners, agreed to the termination of the previously disclosed April 2020 Special Retention/Transaction Bonus, Equity Awards and Severance Policy Letter Agreement between Ms. Singer and the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Paula Singer departed as CEO, Walden and Laureate Online Partners at LAUREATE EDUCATION, INC..

Action: departed
Role: CEO, Walden and Laureate Online Partners

Exact text from the filing

On August 11, 2021, the Company and Paula Singer, CEO, Walden and Laureate Online Partners, agreed to the termination of the previously disclosed April 2020 Special Retention/Transaction Bonus, Equity Awards and Severance Policy Letter Agreement between Ms. Singer and the Company.

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LAUREATE EDUCATION, INC. filing history →

Source: SEC EDGAR

accession 0001628280-21-016803

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