The Firm represented Ascend Learning, LLC (“Ascend”) in connection with the Rule 144A / Regulation S offering of $350 million aggregate principal amount of its 6.875% Senior Notes due 2025 (the “Notes”). Ascend intends to use the net proceeds from the sale of the Notes, together with cash on hand, to fund one or more distributions to the owners of the economic interests of Ascend’s parent company, including investment funds affiliated with The Blackstone Group L.P. and Canada Pension Plan Investment Board.
Ascend Learning is a leading provider of online educational content, software and analytics serving institutions, students and employers in healthcare and other high-growth, licensure-driven professions.
The Simpson Thacher team included Jonathan Ozner, Benjamin Heriaud and Dorothy Hector (Capital Markets); Anthony Vernace, Michael Chao and Lanna Lan (M&A); Alden Millard, Rustin Brown and Claire DiMario (Credit); Gary Mandel, Jonathan Cantor and Dmitry Zelik (Tax); Greg Grogan and Alisa Tschorke (Executive Compensation and Employee Benefits); and Genevieve Dorment (Intellectual Property).