University of Arizona Global Campus acquired the OPM Business of Zovio Inc (NasdaqGS:ZVO) on July 31, 2022. UAGC paid $1 in cash and assumed $20 million in rent obligation, hired Zovio employees, and will paying Zovio 15% of tuition net revenues. Zovio and UAGC negotiated, signed and closed on an asset purchase agreement with an effective date of July 31, 2022, after receiving approval from their respective Boards of Directors. Macquarie Capital acted as financial advisor to University of Arizona Global Campus in the transaction. Houlihan Lokey provided fairness opinion to the University of Arizona Global Campus.

University of Arizona Global Campus completed the acquisition of the OPM Business of Zovio Inc (NasdaqGS:ZVO) on July 31, 2022.