Bridgepoint Education Prices Initial Public Offering and Lists on New York Stock Exchange

SAN DIEGO, April 15 /PRNewswire/ -- Bridgepoint Education today announced the pricing of its initial public offering of 13,500,000 shares of its common stock at $10.50 per share. The offering included 3,500,000 shares offered by Bridgepoint Education and 10,000,000 shares offered by selling stockholders. Bridgepoint's common stock will commence trading on the New York Stock Exchange on April 15, 2009, under the ticker symbol "BPI."

Warburg Pincus Private Equity VIII, L.P. has granted the underwriters a 30-day option to purchase up to 2,025,000 shares of common stock at the initial public offering price to cover over-allotments, if any. Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. acted as joint book-running managers of the offering. William Blair & Company, L.L.C., BMO Capital Markets Corp., Piper Jaffray & Co., and Signal Hill Capital Group, LLC, acted as co-managers for the offering.

A copy of the final prospectus may be obtained directly from:

    Credit Suisse Securities (USA) LLC
    Prospectus Department
    One Madison Avenue 1B
    New York, NY 10010
    (800) 221-1037

    J.P. Morgan Securities Inc.
    Prospectus Department
    1 Chase Manhattan Plaza, Floor 5B
    New York, NY 10081
    (212) 552-5164

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale, offer or solicitation of these securities in any state or jurisdiction in which such sale, offer or solicitation would be unlawful.

About Bridgepoint Education

Bridgepoint Education's postsecondary education services focus on offering associate's, bachelor's, master's and doctoral programs in the disciplines of business, education, psychology, social sciences and health sciences. Bridgepoint Education's regionally accredited academic institutions - Ashford University and University of the Rockies - deliver their programs online as well as at traditional campuses located in Clinton, Iowa, and Colorado Springs, Colorado, respectively.

SOURCE Bridgepoint Education