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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Aspen Group, Inc.    ASPU

ASPEN GROUP, INC.

(ASPU)
  Report
Delayed Quote. Delayed Nasdaq - 10/20 04:00:00 pm
11.39 USD   +1.88%
09/19ASPEN : Investor Presentation
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09/18ASPEN GROUP, INC. : Change in Directors or Principal Officers (form 8-K)
AQ
09/16ASPEN : Conference Call Transcript Q1 2021
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Aspen : Announces Auto Conversion of $10 Million Convertible Notes Reducing Debt Balance to Zero

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09/14/2020 | 04:02pm EDT

NEW YORK, Sept. 14, 2020 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (“AGI”) (Nasdaq: ASPU), an education technology holding company, today announced that the $10 million of secured convertible notes issued by the Company on January 22, 2020 have fully converted.

The convertible notes were automatically convertible into Aspen Group common stock once the closing price of the Company’s common stock equaled or exceeded $10.725 for 20 consecutive trading days. The auto conversion occurred at the close of trading on Monday, September 14, 2020. The Company had two $5 million secured convertible notes carrying a 7% interest rate convertible at $7.15 per share. The extinguishment of the notes eliminates $700,000 of annual interest expense. Aspen Group has issued 1,398,602 shares of common stock to the two noteholders.

“This represents another important milestone in the continual strengthening of our balance sheet. Upon the full conversion of the convertible notes, Aspen Group is now entirely debt-free. This also removes $700,000 of annual interest expense from our P&L,” stated Michael Mathews, Aspen Group Chairman and CEO. “The appreciation in Aspen Group’s stock price year-to-date reflects our growth and improving financial performance, as we have successfully executed our strategy of increasing our nursing student body, particularly in the high-LTV degree programs.”

About Aspen Group, Inc.

Aspen Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again. For more information, visit www.aspu.com.

Contact Information:

Hayden IR
Kimberly Rogers
(385) 831-7337
Kim@HaydenIR.com


AGI Logo.jpg

Source: Aspen Group Inc.

2020 GlobeNewswire, Inc., source Press Releases


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All news about ASPEN GROUP, INC.
09/19ASPEN : Investor Presentation
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09/18ASPEN GROUP, INC. : Change in Directors or Principal Officers (form 8-K)
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09/16ASPEN : Conference Call Transcript Q1 2021
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09/14ASPEN : Xbrl q1 2021
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09/14ASPEN : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS ..
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09/14ASPEN : Q1 2021 Financial Results Presentation
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09/14ASPEN GROUP, INC. : Results of Operations and Financial Condition, Financial Sta..
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09/14ASPEN : Reports Acceleration of Revenue Growth to 46% and Record Revenue of $15...
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09/14Aspen Group Reports Acceleration of Revenue Growth to 46% and Record Revenue ..
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09/14ASPEN : Announces Auto Conversion of $10 Million Convertible Notes Reducing Debt..
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More news
Financials (USD)
Sales 2021 66,3 M - -
Net income 2021 -6,19 M - -
Net Debt 2021 - - -
P/E ratio 2021 -43,3x
Yield 2021 -
Capitalization 252 M 252 M -
Capi. / Sales 2021 3,80x
Capi. / Sales 2022 2,93x
Nbr of Employees 575
Free-Float 88,5%
Chart ASPEN GROUP, INC.
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Technical analysis trends ASPEN GROUP, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Average target price 14,83 $
Last Close Price 11,18 $
Spread / Highest target 43,1%
Spread / Average Target 32,7%
Spread / Lowest Target 25,2%
EPS Revisions
Managers
NameTitle
Michael D. Mathews Chairman & Chief Executive Officer
Gerard Wendolowski Chief Operating Officer
Frank J. Cotroneo Chief Financial Officer & Director
C. James Jensen Independent Director
Andy E. Kaplan Independent Director
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