University of Phoenix files for IPO
The University of Phoenix is heading for an IPO after its $550 million sale to another university fell through in June.
The deal was called off in June 2025, with the University of Idaho receiving a $12.2 million breakup fee.
Now, Phoenix is switching gears and aiming to list on the New York Stock Exchange.
Financials and key details
Backed by Apollo Global and Vistria Group, the university saw its net income jump to $113.1 million on $950 million in revenue for the year ending August 2024—up from last year's numbers.
The IPO could value Phoenix at up to $1.7 billion, with Morgan Stanley, Goldman Sachs, Bank of Montreal, Jefferies Financial Group, and Apollo Global Securities leading the charge.
Founded in 1976 and focused on online education (with most students working while they study), Phoenix will trade under the ticker PXED once it hits the market.