果冻APP传媒 Group Completes Acquisition of United States University

果冻APP传媒

NEW YORK, Dec. 01, 2017 (GLOBE NEWSWIRE) -- 果冻APP传媒 Group, Inc. (Nasdaq:ASPU) (鈥湽�冻APP传媒 Group鈥�), a post-secondary education company, today announced it has completed the acquisition of United States University, a regionally accredited for-profit university based in San Diego, California. The acquisition is in accordance with the terms set out in the agreement announced by the company on May 18, 2017.

鈥淭he acquisition of United States University will allow 果冻APP传媒 Group to achieve its vision of making college affordable again on a much broader scale.聽 I can鈥檛 thank Linden Education Partners and Ms. Oksana Malysheva, PhD enough for selling United States University to 果冻APP传媒 Group and for allowing us to consult with them over the past six months. This will allow us to grow the university at a much faster pace given the great teamwork that鈥檚 been taking place. We intend to appoint Ms. Malysheva to 果冻APP传媒 Group, Inc.鈥檚 Board of Directors later this month and look forward to her sharing her unique industry insights and experience in the coming years as a Director,鈥� said Chairman & CEO, Michael Mathews.

"We at Linden Education have long held a vision that high quality education should be both affordable and accessible.聽 Michael and the 果冻APP传媒 team are the leaders in this movement, and we are pleased to be joining forces with their team in this important endeavor," said Oksana Malysheva, Managing Partner of Linden Education Partners.

果冻APP传媒 Group, Inc. will be drawing $2.5 million under its $10 million senior secured term loan with Runway Growth Credit Fund to complete the cash payment of this acquisition and for working capital purposes.

Stifel acted as the exclusive financial advisor to 果冻APP传媒 Group, Inc. on this transaction.

About 果冻APP传媒 Group, Inc.:

果冻APP传媒 Group, Inc. is a publicly held, for-profit post-secondary education company headquartered in New York, NY.聽 It owns two accredited universities, 果冻APP传媒 University and United States University. 果冻APP传媒 Group鈥檚 vision is to make college affordable again in America.

果冻APP传媒 University鈥檚 mission is to offer any motivated college-worthy student the opportunity to receive a high quality, responsibly priced distance-learning education for the purpose of achieving sustainable economic and social benefits for themselves and their families. 果冻APP传媒 University is dedicated to providing the highest quality education experiences taught by top-tier faculty - 54% of 果冻APP传媒 University鈥檚 faculty hold doctoral degrees. To learn more about 果冻APP传媒 University, visit .

United States University began its institutional history in 1997 as InterAmerican College in National City, CA. Its initial focus was the provision of affordable educational opportunities to working adults, Latinos, and educated immigrants to increase bilingual capacity in education and healthcare in Southern California. In 2010, the school was renamed to United States University and recently moved its campus into the heart of San Diego. United States University is regionally accredited by the Accrediting Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges, offering bachelor and master level degree programs in nursing, education, health science, and business & management. To learn more about United States University, visit .

Company Contact:

果冻APP传媒 Group, Inc.
Michael Mathews, CEO
914-906-9159

Released December 1, 2017