October 2015 - socentlaw

FIRST BENEFIT CORPORATION IPO!

Laureate Education Inc. filed an S-1 on Friday, indicating its plans to go public. At the same time, it converted to a public benefit corporation in Delaware. According to the Baltimore Business Journal, Laureate is the world’s largest for-profit network of colleges.” With respect to Laureate’s status as a public benefit corporation, the S-1 states: “we redomiciled in Delaware as a public benefit corporation as a demonstration of our long-term commitment to our mission to benefit our students and society.” The prospectus touts that Laureate will be the first publicly traded public benefit corporation. I’m reading through the rest of the prospectus now and will post more analysis this week. . . stay tuned!