Education Management, a provider of campus-based and online postsecondary education programs, announced terms for its IPO on Monday. The Pittsburgh, PA-based company plans to raise $380 million by offering 20,000,000 shares at a price range of $18.00 to $20.00. At the mid-point of the proposed range, Education Management will command a market value of $2.7 billion. Education Management, which was founded in 1962 and booked $2 billion in revenue over the last 12 months, plans to list on the NASDAQ under the symbol EDMC. Goldman Sachs, J.P. Morgan, and BofA Merrill Lynch are among the lead underwriters on the deal, which is expected to price on Thursday, October 1.
