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American Public Education, Inc. (Nasdaq: APEI) announced that its Board of Directors increased the authorization under its existing share repurchase program by $15 million worth of shares of the Company’s common stock. This amount is in addition to the existing authorization, which as of December 31, 2012, permitted the repurchase of up to $8.0 million dollars of shares.
Subject to market conditions, applicable legal requirements and other factors, the repurchases may be made in open market transactions or privately negotiated transactions. The authorization does not obligate the Company to acquire any shares, and purchases may be commenced or suspended at any time based on market conditions and other factors that the Company deems appropriate.
This repurchase program is in addition to the previously existing program to repurchase an amount of shares equivalent to those issued under equity compensation programs during 2013.
The total number of shares of American Public Education common stock outstanding as of February 25, 2013, was 17,802,678.
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