CHARLES
TOWN, W.V., March 20,
2023 /PRNewswire/ -- American Public Education, Inc.
(Nasdaq: APEI) today announced it has appointed Michael D. Braner, a Managing Partner of 325
Capital LLC ("325 Capital"), to APEI's Board of Directors,
effective March 28, 2023.
"We are excited to welcome a seasoned investor and existing
shareholder, Michael Braner, to
APEI's Board of Directors," said Ric
Andersen, Chairman of APEI's Board of Directors. "His
experience partnering with management teams and boards to further
unlock long-term value aligns well with APEI's objectives."
Angela Selden, President and
Chief Executive Officer of APEI, said, "The APEI management team is
very pleased to continue to collaborate with Michael and the 325
team in this new capacity. Their enthusiasm for and familiarity
with the value levers of our business will contribute greatly to
our future success."
Mr. Braner said, "I am excited to join the APEI Board and look
forward to working together with Angie and her team, as well as the
rest of the Board, to enhance shareholder value."
325 Capital and certain other persons and entities together own
approximately 4.9% of APEI's outstanding common stock. In
connection with the appointment of Mr. Braner, APEI entered into a
Cooperation Agreement between APEI and 325 Capital containing
customary provisions, including a standstill arrangement.
About Michael D.
Braner
Mr. Braner is currently the Managing Partner
and Chief Compliance Officer of 325 Capital and has served in those
roles since 2018. Mr. Braner previously served as a Partner at
Sagard Capital Partners, L.P. from 2005 to 2016. Prior to Sagard
Capital, from 1992 to 2003, Michael was at Bain & Company,
supporting clients in Bain's Chicago, Hong
Kong, Sao Paulo,
Mexico City, Dallas, Boston, and Los
Angeles offices, providing strategic direction to such
clients.
About 325 Capital LLC
325 Capital is a long-term,
significant, minority owner of high-quality, small, public
companies. 325 Capital strives to constructively partner with
management teams and boards that are committed to driving
long-term, fundamental value. As lead shareholders, 325 Capital
supports its portfolio by working from deeply researched facts,
acting as discrete advisors or constructive board members,
providing access to a network of relationships, and providing
direct growth capital. The team at 325 Capital has worked together
for over 20 years developing this approach, strategy, and process
and values facts, transparency, alignment, and partnership.
About American Public Education
American Public
Education, Inc. (Nasdaq: APEI), through its institutions
American Public University System (APUS), Rasmussen
University, Hondros College of Nursing,
and Graduate School USA (GSUSA),
provides education that transforms lives, advances careers, and
improves communities.
APUS, which operates through American Military University and
American Public University, is the leading educator to active-duty
military and veteran students* and serves approximately 88,900
adult learners worldwide via accessible and affordable higher
education.
Rasmussen University is a 120-year-old nursing and health
sciences-focused institution that serves approximately 14,300
students across its 22 campuses in six states and online. It also
has schools of Business, Technology, Design, Early Education and
Justice Studies.
Hondros College of Nursing focuses
on educating pre-licensure nursing students at eight campuses (six
in Ohio, one in Indiana, and one in Michigan). It is the largest educator of PN
(LPN) nurses in the state of Ohio** and serves approximately 2,700 total
students. Graduate School USA is a
leading training provider to the federal workforce with an
extensive portfolio of government agency customers. It serves the
federal workforce through customized contract training (B2G) to
federal agencies and through open enrollment (B2C) to government
professionals.
Both APUS and Rasmussen are institutionally accredited by
the Higher Learning Commission (HLC), an institutional
accreditation agency recognized by the U.S. Department of
Education. Hondros is accredited by the
Accrediting Bureau of Health Education Schools (ABHES). GSUSA is
accredited by the Accrediting Council for Continuing Education
& Training (ACCET). For additional information, visit
www.apei.com.
*Based on FY 2019 Department of Defense tuition assistance
and Veterans Administration student enrollment data, as reported by
Military Times, 2020.
**Based on information compiled by the National Council of
State Boards of Nursing and Ohio
Board of Nursing.
Contact:
Ryan Koren
AVP, Investor Relations & Corporate Development, APEI
RKoren@apei.com
(610) 428-7376
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SOURCE American Public University System