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American Public Education (NASDAQ:APEI), a provider of exclusively online postsecondary education targeting the military and public service communities, is going public this week. The West Virginia-based company operates through the American Military University and the American Public University.

All quotations are from the company's most recent S-1 filing with links provided.

AMERICAN PUBLIC EDUCATION (APEI)
Business Overview (from prospectus)

We are a provider of exclusively online postsecondary education directed at the needs of the military and public service communities. We operate through two universities, American Military University, or AMU, and American Public University, or APU, which together constitute the American Public University System. Our universities share a common faculty and curriculum that includes 57 degree programs and 49 certificate programs in disciplines related to national security, military studies, intelligence, homeland security, criminal justice, technology, business administration and liberal arts. We currently serve approximately 25,000 part-time adult students living in all 50 states and more than 130 foreign countries. Our university system is regionally and nationally accredited.

Offering: 4.7 million shares at $15.00 - $17.00 per share. Net proceeds of approximately $68.0 million will be used for a special distribution to stockholders of record.

Lead Underwriters: William Blair, Piper Jaffray

Financial Highlights:

Revenues for the six months ended June 30, 2007 were $30.3 million, an increase of 78% from $17.0 million for the six months ended June 30, 2006... Costs and expenses were $24.3 million for the six months ended June 30, 2007, an increase of $9.2 million, or 61%, compared to $15.1 million for the six months ended June 30, 2006... Selling and promotional expenses for the six months ended June 30, 2007 were $2.9 million, representing an increase of 21% from $2.4 million for the six months ended June 30, 2006... General and administrative expenses for the six months ended June 30, 2007 were $7.1 million, representing an increase of 78% from $4.0 million for the six months ended June 30, 2006... Net income was $3.6 million for the six months ended June 30, 2007, compared to net income of $933,000 for the six months ended June 30, 2006, an increase of $2.6 million.

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