NEW YORK, June 27, 2016 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (OTCQB:ASPU), a nationally accredited online postsecondary education company (Aspen University), today reports that it has completed the buyback of all 13.5 million outstanding warrants held by Hillair Capital Investments L.P. (“Hillair”).
Terms of the buyback included a one-time cash payment of $400,000 and the Company issued Hillair 2,500,000 shares of common stock.
“We’re very pleased to be able to repurchase all of the outstanding Hillair warrants at this time. This repurchase removes this potential ownership dilution and demonstrates the confidence that we have in the future of the Company. We would also like to thank Hillair for their support and we’re pleased they have elected to become a shareholder,” said Chairman & CEO, Michael Mathews.
About Aspen Group, Inc. (OTCQB:ASPU)
Aspen Group, Inc. is an online postsecondary education company. Aspen University’s mission is to offer any motivated college-worthy student the opportunity to receive a high-quality, responsibly priced distance-learning education for the purpose of achieving sustainable economic and social benefits for themselves and their families. Aspen is dedicated to providing the highest quality education experiences taught by top-tier faculty – 56 percent of our adjunct faculty hold doctoral degrees. To learn more about Aspen University, visit www.aspen.edu.
Media Contact: Aspen Group, Inc. Michael Mathews, CEO 914-906-9159
Source:Aspen Group, Inc.