LANCASTER, Calif., Dec. 18,
2024 /PRNewswire/ -- Legacy Education
Inc. ("Legacy Education" or the "Company") (NYSE American:
LGCY), a leader in career-focused educational services, is proud to
announce the successful completion of its acquisition of Contra
Costa Medical Career College ("CCMCC"), located in Antioch, California, pursuant to the execution
of its previously announced asset purchase agreement ("APA") on
October 30, 2024 for a purchase price
of $8,000,000. The purchase price
is as follows: (i) $6,133,079.84 was paid at
closing (which, pursuant to the APA was $6,600,000 as adjusted for the certain estimated
closing capital as set forth in the APA), (ii) a promissory
note in the principal amount of $400,000 was issued at closing and (iii) the
Company issued 118,906 shares of its common stock equivalent
to $1,000,000. The acquisition
of CCMCC expands Legacy Education's footprint to six campuses
across California, further
enhancing its ability to deliver high-quality allied health
education in Northern
California.
CCMCC has long been recognized for its commitment to excellence
in healthcare training, offering programs such as Surgical
Technology, Vocational Nursing, Sonography and more. This
acquisition aligns with Legacy Education's strategy to meet the
increasing demand for skilled healthcare professionals and to
expand access to education for students seeking careers in this
vital industry.
"We are thrilled to officially welcome Contra Costa Medical
Career College to the Legacy Education family," said LeeAnn Rohmann, CEO of Legacy Education. "This
acquisition reflects our ongoing commitment to providing
accessible, industry-relevant education that empowers students to
build meaningful careers. Together, we are better positioned to
serve the healthcare sector's growing workforce needs while
transforming lives through education."
With this acquisition, Legacy Education strengthens its
portfolio and reinforces its mission to innovate and deliver
career-ready education. The integration of CCMCC will enhance the
availability of cutting-edge training, ensuring students are
equipped to excel in their chosen fields.
ABOUT LEGACY EDUCATION
Legacy Education (NYSE: LGCY) is an award-winning, nationally
accredited, for-profit post-secondary education company founded in
2009. Legacy Education provides career-focused education primarily
in the healthcare field, with certificates and degrees for nursing,
medical technicians, dental assisting, business administrative, and
several others. The Company offers a wide range of educational
programs and services to help students achieve their professional
goals. Legacy Education's focus is on providing high-quality
education that is accessible and affordable. Legacy Education is
committed to growing it's education footprint via organic
enrollment growth, addition of new programs and accretive
acquisitions. For more information, please visit www.legacyed.com
or on LinkedIn @legacy-education-inc.
FORWARD-LOOKING STATEMENTS
Statements in this press release about future expectations,
plans, and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
"forward-looking statements." The words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," "target," "will,"
"would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. The forward-looking
statements contained in this press release are based on
management's current expectations and are subject to substantial
risks, uncertainty and changes in circumstances. A number of
important factors could cause actual results to differ materially
from those included within or contemplated by the forward-looking
statements, including, but not limited to: statements relating to
risks arising from the diversion of management's attention from the
Company's ongoing business operations to integrate the operations
of CCMCC; an increase in the amount of costs, fees and
expenses and other charges related to the acquisition; outcome of
any litigation that the Company may become subject to relating to
the acquisition; risks that the acquisition disrupts plans and
operations of the Company and potential difficulties in sellers'
employee retention as a result of the acquisition; and the ability
to implement business plans, forecasts and other expectations after
the completion of the acquisition, realize the intended benefits of
the acquisition, and identify and realize additional opportunities
following the acquisition, as well as the other risks and
uncertainties identified in filings by the Company with the
Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K for the year ended June
30, 2024 as may be amended or supplemented by additional
risk factors set forth in subsequent filings made with the
Securities and Exchange Commission. All forward-looking
statements speak only as of the date of this press release.
Consequently, forward-looking statements should be regarded solely
as Legacy Education's current plans, estimates, and beliefs. Legacy
Education cannot guarantee future results, events, levels of
activity, performance or achievements. Legacy Education does not
undertake and specifically declines any obligation to update or
revise any forward-looking statements to reflect new information,
future events or circumstances or to reflect the occurrences of
unanticipated events, except as may be required by applicable
law.
Contact Legacy Education Inc.
Investor Relations
ir@legacyed.com
Amato and Partners, LLC
Investors Relations Counsel
admin@amatoandpartners.com
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SOURCE Legacy Education Inc.