Ascent Classical Academy Charter Schools, Inc. based in Colorado, successfully sells $77.5 million in bonds to support acquisition and campus expansion

GOLDEN, CO / ACCESSWIRE / May 29, 2024 / Ascent Classical Academy Charter Schools, Inc. (ACACS), Colorado’s leading network of charter schools dedicated to providing classical education, is pleased to announce the successful sale of $77,515,000 in bonds on April 25, 2024. The bonds represent a significant milestone in ACACS’ mission to expand educational opportunities for students throughout Colorado.

ACACS has been rated BB by Standard & Poor’s, highlighting investor confidence in ACACS’s financial stability and growth potential. A total of 14 investors participated in the bond sale, which was issued through the Colorado Office of Educational and Cultural Facilities. The bonds have a fixed interest rate, a real interest cost of 5.79% and a final maturity of 35 years.

Proceeds from the bond sale will support several strategic initiatives designed to support ACACS’s commitment to educational excellence. In particular, the funds will be allocated to:

1. Ascent Douglas County Campus Acquisition and Improvement: Improving facilities to provide students with an optimal learning environment.
2. Ascent Northern Colorado Campus Acquisition: Expanding ACACS’ footprint to serve more students in the Northern Colorado region.
3. Ascent Grand Junction Campus Refinancing: Strategic debt management to ensure long-term financial stability.
4. Expand Ascent Northern Denver Campus: Expanding capacity to meet growing demand for the classic ACACS education model.

Commenting on the successful bond sale, Rob Williams, Chairman of the Board of ACACS, expressed his enthusiasm, stating: “We are thrilled with the overwhelming support from investors, which reflects confidence in our mission and vision for the future. Proceeds from the sale of the bonds will be used to enable us to continue providing a classical, content-rich education that instills moral character and civic virtue in our students.”

ACACS operates four tuition-free K-12 classical charter schools, affiliated with Hillsdale College, offering a rigorous curriculum based in the liberal arts and sciences.

More information about Ascent Classical Academy Charter Schools, Inc. can be found at Ascentcolorado.org.

About Ascent Classical Academy Charter Schools, Inc.:

Ascent Classical Academy Charter Schools, Inc. is Colorado’s leading charter school network committed to providing a classical education rooted in the liberal arts and sciences. By focusing on moral character and civic virtue, ACACS empowers students to excel academically and make significant contributions to society.

Contact info

Kim Gilmartin
(email protected)
720-840-3256

Chris Scott
Chief Financial Officer
(email protected)
(720) 336-0140

SOURCE: Ascent Classical Academy, Inc. Charter Schools

View the original press release on newswire.com.