Kevin Gruneich and and Donna Gruneich acquired 56.7% stake in Learning Tree International, Inc. from David C. Collins, Mary C. Collins, Collins Family Foundation, DCMA Holdings, LP and The Adventures in Learning Foundation for $7.5 million.
June 28, 2018
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Kevin Gruneich and Donna Gruneich acquired 56.7% stake in Learning Tree International, Inc. (OTCPK:LTRE) from David C. Collins, Mary C. Collins, Collins Family Foundation, DCMA Holdings, LP and The Adventures in Learning Foundation for $7.5 million on June 29, 2018. Under the terms of the transaction, Kevin Gruneich acquired 7.5 million shares of Learning Tree International for $1 per share. In a related transaction, Learning Tree International has entered into the Line of Credit Agreement with The Kevin Ross Gruneich Legacy Trust, a trust affiliated with Kevin Gruneich that provides Learning Tree International with access to borrow up to $5 million at a fixed interest rate of 5% per annum. As part of the sale, David C. Collins and Mary C. Collins have resigned as Directors on Learning Tree International's Board of Directors as well their other positions with Learning Tree International and its subsidiaries. The Board of Directors has appointed Kevin Gruneich to fill the Class III Director vacancy and has also appointed Kevin Gruneich to serve as the Chairman of the Board. Kevin Gruneich to appoint one additional qualified director to serve as a Class I Director. The transaction is subject to certain condition including, David C. Collins and Mary C. Collins shall deliver resignation letters, as a director and as an officer of Learning Tree International and each of the Executive Officers of Learning Tree International shall have executed a supplement to such Executive Officer’s employment agreement.
Kevin Gruneich and Donna Gruneich completed the acquisition of 56.7% stake in Learning Tree International, Inc. (OTCPK:LTRE) from David C. Collins, Mary C. Collins, Collins Family Foundation, DCMA Holdings, LP and The Adventures in Learning Foundation on June 29, 2018.
Learning Tree International, Inc. is a provider of learning solutions to support organizationsâ use of technology and effective business practices. The Company provides skills training and certification solutions to impact individual careers and organizational performance. The Companyâs courses include agile and scrum; business applications; cloud computing; cyber security; data, analytics and artificial intelligence; information technology (IT) infrastructure; IT service management; leadership; project management; and software. Its solutions include Coaching, Custom Content Solutions, Enterprise Solutions, Government Solutions, Learning Tree+ Advantage Plan, Learning Paths, Managed Training Services, Skills Assessments, Team Training, and Training Vouchers. Its certification courses include ITIL 4 Foundation Training, CompTIA Security+ Training, PMI Authorized PMP Exam Prep, Certified ScrumMaster Training, CISSP Training and Certification Prep Course, and others.
Kevin Gruneich and and Donna Gruneich acquired 56.7% stake in Learning Tree International, Inc. from David C. Collins, Mary C. Collins, Collins Family Foundation, DCMA Holdings, LP and The Adventures in Learning Foundation for $7.5 million.
LEARNING TREE INTERNATIONAL, INC. 
