Greenwood Hall Completes $8 Million Recapitalization to Fuel Rapid Expansion in Higher Education Sector
-- Company to Enhance Infrastructure, Accelerate R&D Activities --
SANTA ANA, Calif.--(BUSINESS WIRE)--Greenwood Hall, Inc. (OTCBB: ELRN), provider of dynamic student lifecycle solutions for colleges and universities, today announced that it has completed an $8 million recapitalization to help the company accelerate its expansion in the higher education sector.
“We have been able to grow and establish a leadership position, and the recapitalization will provide us with the tools necessary to further expand the Company’s services.”
The recapitalization includes a combination of both equity investment and debt refinancing. In addition to enhancing the company’s infrastructure, the Company also is introducing new technologies that will provide schools with unique visibility and analytics, aimed at both attracting and retaining students.
“Greenwood Hall has built a strong reputation helping schools enter new markets and enhance student success,” said Dr. John Hall, Greenwood Hall’s Chief Executive Officer and Co-Founder. “We have been able to grow and establish a leadership position, and the recapitalization will provide us with the tools necessary to further expand the Company’s services.
“When one takes into account the Company’s new technology platform, Greenwood Hall is well positioned to provide schools with enduring student lifecycle solutions that solve real challenges in higher education,” Dr. Hall said. “We are excited about the opportunities that lie ahead and the ability to help more schools thrive in a rapidly evolving higher education marketplace.”
As the education technology industry grows, Greenwood Hall’s solutions have supported more than 450,000 students, who have invested hundreds of millions of dollars in tuition primarily at private, not-for-profit and public institutions.
“Unlike other options that may just include educational technology, consulting, or offerings that impact only segments of the student lifecycle, Greenwood Hall solutions are holistic in nature – addressing the entire student lifecycle and providing schools with great tools, as well as personalized services for students,” said Dr. Hall. “With more than two-thirds of university CFOs saying that higher education is facing a financial crisis, Greenwood Hall is uniquely positioned to continue to help schools improve efficiencies and deliver better outcomes to students.”
About Greenwood Hall, Inc.
Powering the education revolution one student at a time, Greenwood Hall helps colleges and universities increase enrollments, create positive student experiences and enhance learning outcomes throughout the student lifecycle via dynamic cloud-based solutions that integrate state of the art technology, higher education expertise, project management and workforce solutions. Since establishing its education business in 2006, Greenwood Hall has grown to approximately 150 employees serving more than 25 education clients and over 70 degree programs. The company is headquartered in Orange County, California, with facilities in College Station, Texas and Shanghai, China. For more information, visit http://www.greenwoodhall.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Certain statements contained in this document, including, but not limited to, predictions and projections that may be considered forward-looking statements under securities law, involve a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to, lack of consumer acceptance and demand for the Company’s products, insufficient working capital to expand the Company’s technology and engage in product marketing, intense competition from larger and more well-established companies, and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.