US medical professional education institution operator Legacy Education has submitted an initial public offering (IPO) application to the US Securities and Exchange Commission (SEC), planning to raise $10 million.
According to the Zhìtōng Cáijīng APP, US medical professional education institution operator Legacy Education has submitted an initial public offering (IPO) application to the US Securities and Exchange Commission (SEC), planning to raise $10 million. The company plans to list on the New York Stock Exchange under the ticker symbol "LGCY". The company plans to use part of the proceeds to continue developing its products and is expected to launch several new programs (such as EMT and surgical technology) starting from October 2024.
It is reported that Legacy Education owns and operates three education institutions: High Desert Medical College, Central Coast College, and Integrity College of Health. These institutions focus on vocational medical education, offering degrees in nursing, medical technicians, dental assistants, and business management.
Data shows that the company's revenue in the 12 months ending March 31, 2024, was $43 million. In the 9 months ending March 31, 2024, the company's revenue grew 28% to $33 million, gross margin increased by 498 basis points to 46%, adjusted EBITDA increased by 106% to $5.6 million, and EBITDA margin increased by 633 basis points to 17%.