Bridgepoint Private Equity

Bridgepoint

Bridgepoint | Private Equity Profile

The following piece on Bridgepoint is being published as part of our Private Equity Tracker Tool, our daily effort to track private equity firms in the industry.

Resource #1: Shares of Bridgepoint Education dropped Wednesday after the for-profit online education provider said its biggest stockholder, the private equity firm Warburg Pincus, and members of its management team planned to sell up to 11 million of their shares in a secondary public offering.

Warburg Pincus owns nearly 65 percent of Bridgepoint's 53.3 milllion shares outstanding, according to the regulatory filing, or 34.6 million shares. The company did not say at which price they would offer the shares nor a date when they would be available for sale.

Bridgepoint will not receive any proceeds from the sale. Shares dropped $1.45, or 7 percent, to $19.33 in afternoon trading.

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