Thursday, February 11, 2016

Michael Milken owns 27% of Nobel Learning

Former Drexel Burnham junk-bond king, Penn Wharton grad and convicted felon Michael R. Milken is a major investor in West Chester-based Nobel Learning Communities.

Michael Milken owns 27% of Nobel Learning


  Michael R. Milken, the ex-junk bond king, convicted securities felon and philanthropist, has rolled up a 27 percent stake in Nobel Learning Communities, the West Chester-based chain of more than 170 private schools.
  "We've never met him," says Nobel CFO Tom Frank. Milken, who was barred from the securities business after his 1990 conviction, has no board seat, either. He does have a well-known interest in for-profit education.
  According to SEC filings, Milken bought 185,000 shares at $12 in March, and another 200,000 shares at $13.25 in May, bringing his holdings to 2.75 million shares -- more than one-quarter of the company. The stock recently topped $14. Last SEC filing here.
  Nobel this week said it's boosted its acquisition war chest by increasing its bank credit agreement to $75 million, from $50 million. Lenders include Citizens Bank of Pennsylvania, BMO Capital Markets, JPMorgan, Sun Trust Bank and TriState Capital Bank. Release here.

We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog

Joseph N. DiStefano
Also on
letter icon Newsletter