CAUSES FOR CONCERN:
(1) "Requirement that the University of Phoenix and Western International University will BE REQUIRED TO MAINTAIN ENROLLMENT LEVELS THAT ARE NO HIGHER THAN THE ENROLLMENT LEVELS ON THE DAY BEFORE THE MERGER"
(2) "Requirement that retention and graduation rates improve over the course of the first year after the Merger"
(3) "Either Queso or we can abandon the Merger if, among other things, the conditions relating to the preacquisition review response are not satisfied and are not curable prior to February 1, 2017, the termination date of the Merger Agreement governing the Merger."
(4) "the Merger is subject to the approval by our principal accreditor, the Higher Learning Commission (“HLC”)"
SOURCE:
https://www.sec.gov/Archives/edgar/data/929887/000119312516788017/d255168d8k.htm