NEW YORK, Jan. 09, 2017 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (OTCQB:ASPU) (“Aspen”), a nationally accredited online
post-secondary education company (Aspen University), today announced a 1-for-12 reverse split of its common shares. The reverse
split will be effective on the opening of trading on January 10, 2017. The Company’s common stock will trade on a post-split basis
under the ticker symbol “ASPUD” for 20 business days and then revert back to “ASPU” thereafter.
When the reverse stock split becomes effective, every 12 shares of issued and outstanding ASPU common stock will be combined
into one issued and outstanding share of common stock with no changes to the par value of the shares. The reverse split will
reduce the number of ASPU’s outstanding common stock from approximately 138.2 million shares to approximately 11.5 million
shares. All fractional shares will be rounded up to the nearest whole share. In addition, the Company's outstanding options
and warrants will be consolidated in the same ratio as the common stock and the exercise price amended in inverse proportion to
that ratio.
“The reverse stock split will help us satisfy certain requirements, as part of our future plan to seek a listing on the NASDAQ
Capital Market," said Aspen Group CEO Michael Mathews. "It will also raise awareness and visibility of our stock with a broader
range of institutional investors, without fundamentally changing stockholder value or the company’s market capitalization.”
About Aspen Group, Inc.:
Aspen Group, Inc. is an online postsecondary education company. Aspen University’s 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. Aspen is dedicated to providing the highest quality
education experiences taught by top-tier faculty - 57% of our faculty hold doctoral degrees. To learn more about Aspen, visit
www.aspen.edu.
Company Contact: Aspen Group, Inc. Michael Mathews, CEO 914-906-9159
