Archipelago Learning, which provides a subscription-based online education platform for K-12 students , raised $103 million by offering 6,250,000 shares at $16.50, within the proposed $15.00 to $17.00 range. Archipelago Learning plans to list on the NASDAQ under the symbol "ARCL". BofA Merrill Lynch, William Blair, and Robert Baird acted as lead managers on the deal.
