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REVU by selling of HER has minimum $0.6 cash per share.
PENN FOSTER sold annually 90MM dollars.
REVU sold its "HER" by 33MM dollars. Now is focused on PENN FOSTER.
But REVU not sold its "HER" division?
Best regards.
RSI in 29 oversold and MACD mark BULLISH. IMO.
Clear bottom in $0.027-$0.03 Now UP to $0.20
IMHO.
REVU Up Up Up 0.03 ? 0.004 (15.38%)
IMHO.
Saying that there is a "rumor" about a huge sale
of REVU is very misleading and smells of overt promotion without substantiation. Please expound upon your REVU post for our edification.
Rumors about REVU or just that Rumors.
jmo
There is a rumor that an Asian company is preparing an offer to buy REVU to $1.5 or $2 per share. I have told me several friends.
IMHO.
REVU Good Bounce today. I expect big rally to $0.2.
Target price for a long term is $1.
Trader, how's that big buyout working out for you so far?
REVU - BUY-IF The last two candlesticks formed a Bullish Homing Pigeon Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation.
Source: http://www.americanbulls.com/StockPage.asp?CompanyTicker=REVU&MarketTicker=OTC&TYP=S
More info: http://investorshub.advfn.com/boards/board.aspx?board_id=20991
Good post. In my humble opinion if they can use the money from the sale of "Princetownview" for Penn Foster and can place as world leader.
REVU gonna get $33M for selling their HER asset. REVU has 55.5M shares outstanding and that results into $0.594 Cash and cash equivalents per share.
Revenues gonna be generated out of 2 sources:
Penn Foster and Career Education Partnerships
Last 10Q was showing the following revenue numbers (In thousands):
Higher Education Readiness (HER) $33,425
Penn Foster $20,991
Career Education Partnerships $91
So company has lost 61% of their revenues
Item 1.01 Entry into a Material Definitive Agreement.
On March 26, 2012, The Princeton Review, Inc. (the “Company”) and certain of its subsidiaries entered into an Asset Purchase Agreement (the “Agreement”) with an affiliate of Charlesbank Capital Partners (“Buyer”) pursuant to which, upon the terms and subject to the conditions set forth in the Agreement, the Company and its subsidiaries will sell, and Buyer will buy, substantially all of the assets of the Company’s Higher Education Readiness Division (the “HER Division”), including the name and brand of The Princeton Review. The Agreement also provides for the assumption by Buyer of certain liabilities relating to the HER Division as well as for the execution of a Non-Competition, Non-Solicitation and Confidentiality Agreement and Transition Services Agreement by the parties.
The consideration for the sale of the HER Division will be $33,000,000 in cash, subject to a purchase price adjustment for changes in working capital of the HER Division. At closing, $1,500,000 of the purchase price will be placed in escrow pending post-closing settlement of any such working capital adjustment. The Company has made customary representations, warranties and covenants with respect to the assets sold. The Company and Buyer have each agreed to indemnify the other from and against, among other things, various claims, damages and liabilities that may be incurred as a result of breaches of representations or warranties under the Agreement, subject to limitations set forth therein. The Company has also agreed to change its name in connection with the transaction.
Consummation of the transaction is subject to customary conditions, including the release of encumbrances on the purchased assets. The Agreement also contains certain termination rights of the parties.
The foregoing is a summary of the terms of the Agreement and does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is attached hereto as Exhibit 2.1.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 23, 2012, the Company received notification from The NASDAQ Stock Market LLC (“NASDAQ”) stating that the Company’s common stock would be delisted from The NASDAQ Capital Market effective at the open of the market on April 3, 2012, unless the Company appeals NASDAQ’s determination. The Company has decided not to appeal this determination. The delisting of the Company’s common stock is a result of the Company’s failure to comply with NASDAQ Listing Rule 5550(a)(2) by evidencing a minimum bid price for its common stock of $1.00 per share and NASDAQ Listing Rule 5550(b) by failing to maintain a minimum of $2,500,000 in stockholders’ equity. The Company expects to have its securities quoted on the OTC QB market upon its delisting from the NASDAQ Capital Market, or as soon as practicable thereafter.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 25, 2012, the Company entered into a Transaction Bonus Agreement with Scott Kirkpatrick, President of the Company’s Higher Education Readiness Division. Pursuant to the Transaction Bonus Agreement, Mr. Kirkpatrick will be paid a cash bonus at, and contingent upon, the closing of a sale of the Company’s HER Division. The amount of the cash bonus is dependent on the amount of the purchase price. Based on the purchase price of sale described in Item 1.01 above, the cash bonus would be $125,000. The Transaction Bonus Agreement also provides that at, and contingent upon, the closing of a sale of the Company’s HER Division, all unvested restricted stock units granted to Mr. Kirkpatrick pursuant to a Restricted Stock Unit Agreement dated November 30, 2009 will accelerate in full. The Transaction Bonus Agreement provides that the payments and benefits provided therein were subject to final approval of the Compensation Committee of the Company’s Board of Directors, which was granted on March 28, 2012.
The foregoing is a summary of the terms of the Transaction Bonus Agreement and does not purport to be complete and is qualified in its entirety by reference to the full text of the Transaction Bonus Agreement, which is attached hereto as Exhibit 10.1.
Item 7.01 Regulation FD Disclosure.
On March 27, 2012, the Company issued a press release, a copy of which is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
2
The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No.
Description
2.1* Asset Purchase Agreement by and among TPR Education, LLC, the Registrant, The Princeton Review Canada Inc. and Princeton Review Operations, L.L.C., dated as of March 26, 2012
10.1 Transaction Bonus Agreement by and between the Registrant and Scott Kirkpatrick, dated as of March 25, 2012
99.1 Press Release issued by the Registrant on March 27, 2012, furnished herewith.
* Schedules, exhibits and similar supporting attachments or agreements to the Asset Purchase Agreement are not filed, but the Company undertakes to furnish a copy of any schedule or similar attachment to the Securities and Exchange Commission upon request.
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE PRINCETON REVIEW, INC.
Dated: March 29, 2012
/s/ Kyle A. Bettigole
Name: Kyle A. Bettigole
Title: SVP, General Counsel and Secretary
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8513475
No I doubt it. And I said I was with shorting REVU and today close my short position. I'm thinking of entering in $0.01 for the possibility of business and finance center with Penn Foster. Penn Foster is the best division was the company that now holds.
What do you think?
IMHO.
REVU sold off an entire division.
Past financials are questionable as to relevance to future results.
jmo
This company gain 180MM of dollars in the last 10Q. Possible buy to speculation.
IMHO.
REVU News - The Princeton Review Publishes New Guidebook to America's Top Undergraduate Profs -- "The Best 300 Professors" Based on Surveys by Princeton Review and Ratings on RateMyProfessors.com
NEW YORK, April 3, 2012 /PRNewswire/ -- The Princeton Review (www.PrincetonReview.com) – one of the nation's best-known education services companies – has teamed up with RateMyProfessors.com – the highest-trafficked college professor ratings site in the U.S. – to create the first comprehensive guidebook to America's top undergraduate professors.
Published today, The Best 300 Professors (Random House / Princeton Review, $19.99, April 3, 2012) profiles outstanding professors at 122 colleges. All of the professors won high praise from their most important audiences: the undergraduates they teach and inspire, class after class, year after year, in fields from Ancient Studies to Neuroscience to Sport Management.
The Princeton Review developed the project in partnership with RateMyProfessors.com and selected the professors in the book based on qualitative and quantitative data from survey findings and ratings collected by both organizations (see "How The Professors Were Chosen" below).
The book's profiles of professors are organized by academic fields. More than 60 fields are represented from Accounting to Engineering to Writing. The Best 300 Professors also includes profiles of colleges at which the professors teach. The school profiles give students considering attending these colleges information on applications, admissions, and other useful data.
Neither the professors nor the colleges are ranked in this book.
Said Robert Franek, Princeton Review's SVP/Publisher and author of the Company's guidebook, The Best 376 Colleges, "We developed this project as a tribute to the extraordinary dedication of America's undergraduate college professors and the vitally important role they play in our culture, and our democracy. One cannot page through this book without feeling tremendous respect for the powerful ways these teachers are enriching their students' lives, their colleges, and ultimately our future as a society."
How The Professors Were Chosen
The Princeton Review and RateMyProfessors.com annually collect data from students at thousands of colleges across the country (and abroad) about their classroom experiences and assessments of their professors. For this project, The Princeton Review culled an initial list using its surveys of hundreds of thousands of students that revealed colleges at which students highly rated their professors' teaching ability and accessibility. Data from RateMyProfessors.com identified more than 42,000 professors at those schools that students had rated on its site. Combining this info, a base list of 1,000 professors was formed. After obtaining further input from school administrators and students, as well as from surveys of professors under consideration, the Princeton Review editors made the final choices of the professors in the book. Complete lists of the book's professors organized three ways (alpha by state/city/college/professor/department, by professor/college/department, and by department/professor/college) are at http://www.princetonreview.com/best-professors.
The Best 300 Professors is one of nearly 150 Princeton Review books published by Random House in a line that also includes The Best 376 Colleges, an annual guide with 62 categories of "top 20" college ranking lists. It has lists of colleges at which students gave their profs the highest marks for their teaching ability and for their accessibility outside class (see these ranking lists at http://www.princetonreview.com/college-rankings.aspx).
The Princeton Review is not affiliated with Princeton University and it is not a magazine.
About The Princeton Review
The Princeton Review (Nasdaq: REVU.PK - News) has been a pioneer and leader in helping students achieve their higher education goals for 30 years through college and graduate school test preparation and private tutoring. With more than 165 print and digital publications and a free website, www.PrincetonReview.com, the company provides students and their parents with the resources to research, apply to, prepare for, and learn how to pay for higher education. The Princeton Review partners with schools and guidance counselors throughout the U.S. to assist in college readiness, test preparation and career planning services, helping more students pursue postsecondary education. The company also owns and operates Penn Foster Education Group, a global leader in online education, providing career-focused degree and vocational programs in the fields of allied health, business, technology, education, and select trades through the Penn Foster High School and Penn Foster Career School (www.pennfoster.edu). For more information, visit www.PrincetonReview.com.
About RateMyProfessors.com
RateMyProfessors.com is the highest-trafficked U.S. college professor ratings site (comScore), with more than 7,500 schools and over 13 million ratings, providing an automated system for quickly researching and rating more than 1.5 million professors from colleges and universities across the United States, Canada, and the United Kingdom. The site reaches more than 4 million college students each month.
WEBSITES:
www.princetonreview.com/best-professors
www.ratemyprofessors.com
REVU-G
http://finance.yahoo.com/news/princeton-review-publishes-guidebook-americas-100000865.html
Today REVU change the ticker to REVU.PK.
IS MY HUMBLE OPINION.
REVU is not going to Rally.
jmo
REVU $0.063 first buy - stock gonna be delisted by tomorrow and it gonna trade on the OTCBB.
Down another 38% Friday.
jmo
REVU - New 8k "3 april" Deslist to OTCBB.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 23, 2012, the Company received notification from The NASDAQ Stock Market LLC ("NASDAQ") stating that the Company's common stock would be delisted from The NASDAQ Capital Market effective at the open of the market on April 3, 2012, unless the Company appeals NASDAQ's determination. The Company has decided not to appeal this determination. The delisting of the Company's common stock is a result of the Company's failure to comply with NASDAQ Listing Rule 5550(a)(2) by evidencing a minimum bid price for its common stock of $1.00 per share and NASDAQ Listing Rule 5550(b) by failing to maintain a minimum of $2,500,000 in stockholders' equity. The Company expects to have its securities quoted on the OTC QB market upon its delisting from the NASDAQ Capital Market, or as soon as practicable thereafter.
http://biz.yahoo.com/e/120329/revu8-k.html
REVU - New 8k "3 april" Deslist to OTCBB.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 23, 2012, the Company received notification from The NASDAQ Stock Market LLC ("NASDAQ") stating that the Company's common stock would be delisted from The NASDAQ Capital Market effective at the open of the market on April 3, 2012, unless the Company appeals NASDAQ's determination. The Company has decided not to appeal this determination. The delisting of the Company's common stock is a result of the Company's failure to comply with NASDAQ Listing Rule 5550(a)(2) by evidencing a minimum bid price for its common stock of $1.00 per share and NASDAQ Listing Rule 5550(b) by failing to maintain a minimum of $2,500,000 in stockholders' equity. The Company expects to have its securities quoted on the OTC QB market upon its delisting from the NASDAQ Capital Market, or as soon as practicable thereafter.
http://biz.yahoo.com/e/120329/revu8-k.html
This week is possible see earnings. Speculation.
You were right with his comments yesterday that it was malinvestment REVU. It was time to open short positions. Thanks to your comments yesterday, I'm making about 10%.
"rectify is wise."
Thanks very much.
But but but ... what happened to the Short Squeeze???
lmao
jmo
Bad News Yesterday. Go to 0.0001! SELL!
Welcome the new mods...
MOASS on REVY means Mother of All Share Scams.
No shorts ..
jmo
Divestiture .. NO terms given on the sale.
Sounds Scammy.
jmo
That claimed buy out must not favor shareholders
it actually hurt many today!
REVU ... Dump on news more likely.
jmo
ZERO Net Shorts on REVU .... No Shorts to Squeeze.
lolol
jmo
http://www.otcbb.com/help/cms_includes/OTCE_Short_Interest.stm?symbol=revu&SettlementDate=03%2F15%2F2012&View.x=66&View.y=9
WOW! lots of Short Squeezes going around!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73701548
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The Princeton Review was founded in 1981 and is now headquartered at 111 Speen Street, Suite 550, Framingham, MA 01701. The Company went public on June 19, 2001 and is traded on the Nasdaq under the symbol "REVU". The Company reports financial results under a normal fiscal calendar (year ending December 31st). The Company's transfer agent is Continental Stock Transfer & Trust Company, 17 Battery Place New York, NY 10004, telephone number: 212-509-4000.
About Penn Foster
Headquartered in Scranton, Pennsylvania, Penn Foster Inc. ("Penn Foster") is one of the oldest and largest accredited distance education providers in the world. Founded in 1890 by Thomas Foster to educate coal miners in safety and engineering, Penn Foster has enrolled over 13 million students around the world since its inception.
In 2003 the institution began its transition from a correspondence school to a modern online distance learning provider; and in 2005 announced its new name: Penn Foster.
Today, the institution has over 200,000 active students in its vocational, associate degree, and high school programs in the U.S., Canada, and 200 countries around the world. In fact, one out of every 1,410 Americans is an active Penn Foster student. And one out of every 2,033 Canadians is an active ICS Canada student.
In March of 2007 the Wicks Group, a New York-based private equity firm, acquired Penn Foster Inc. The Wicks Group manages private equity funds that invest in education, publishing, medical information services, newspapers, and radio broadcasting, among others.
In December 2009 The Princeton Review, Inc. (OTCQB: REVU) acquired Penn Foster Inc. The Princeton Review has been a pioneer and leader in helping students achieve their higher education goals for more than 25 years through college and graduate school test preparation and private tutoring. With more than 165 print and digital publications and a free website, www.PrincetonReview.com, the Company provides students and their parents with the resources to research, apply to, prepare for, and learn how to pay for higher education. The Princeton Review also partners with schools and guidance counselors throughout the U.S. to assist in college readiness, test preparation and career planning services, helping more students pursue postsecondary education.
"All of my career goals could not have been possible
without the education I acquired through Penn Foster.
Over the years, I was promoted, gained many pay increases,
and was respected as an expert in my chosen fields
because of Penn Foster."
W.Taylor, Penn Foster Graduate
http://www.pennfosterinc.com/about.html
Investor Relations Contact
Liolios Group, Inc.
Scott Liolios or Cody Slach
Tel: 949-574-3860
WEBSITES:
http://www.pennfoster.edu
http://www.princetonreview.com
http://www.pennfosterinc.com/about.html
http://www.pennfostercollege.edu
http://www.pennfosterglobal.com
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