PITTSBURGH, Dec. 27, 2014 /PRNewswire/ -- Education Management Corporation ("EDMC" and together with its consolidated subsidiaries, the "Company") announced today that it has extended until 5:00 p.m., New York City time, on December 30, 2014 the expiration date (such date and time, as the same may be further extended, the "New Expiration Date") for its previously announced private offer to exchange (the "Exchange Offer") all outstanding Senior Cash Pay/PIK Notes due 2018 and Senior PIK Toggle Notes due 2018 issued by certain of its subsidiaries (collectively, the "Notes") for a combination of mandatory convertible preferred stock of EDMC and warrants to purchase common stock of EDMC. The Exchange Offer is being conducted in furtherance of the Company's previously announced financial restructuring (the "Restructuring"). The expiration date for the Exchange Offer had previously been 5:00 p.m., New York City time, on December 26, 2014.
Holders who have previously tendered their Notes do not need to take any action in response to the foregoing announcement in order to receive the consideration set forth in the Offering Circular dated October 1, 2014 (the "Offering Circular") and the documents related thereto (together with the Offering Circular, the "Exchange Offer Documents"), all of which remain unchanged except as set forth in this press release. Holders of the Notes are accordingly referred to the Exchange Offer Documents for the detailed terms and conditions of the Exchange Offer.
The Company's obligations with respect to the Exchange Offer are set forth solely in the Exchange Offer Documents. This press release is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Exchange Offer is being made only by, and pursuant to the terms of, the Exchange Offer Documents. The Exchange Offer is not being made in any jurisdiction in which the making thereof would not be in compliance with the applicable laws of such jurisdiction.
Holders of the Notes who desire a copy of the eligibility certification for the Exchange Offer should visit the website for this purpose at main.dfking.com/edmc/ or request instructions by sending an email to edmc@dfking.com or by calling D.F. King & Co., Inc., as Information Agent for the Exchange Offer, at (212) 269-5550.