0001104659-13-091656.txt : 20131223 0001104659-13-091656.hdr.sgml : 20131223 20131220182735 ACCESSION NUMBER: 0001104659-13-091656 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20131223 DATE AS OF CHANGE: 20131220 GROUP MEMBERS: CHARLES R. KAYE GROUP MEMBERS: JOSEPH P. LANDY GROUP MEMBERS: WARBURG PINCUS & CO. GROUP MEMBERS: WARBURG PINCUS LLC GROUP MEMBERS: WARBURG PINCUS PARTNERS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Bridgepoint Education Inc CENTRAL INDEX KEY: 0001305323 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 593551629 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-84845 FILM NUMBER: 131292797 BUSINESS ADDRESS: STREET 1: 13500 EVENING CREEK DR. #600 CITY: SAN DIEGO STATE: CA ZIP: 92128 BUSINESS PHONE: 858-668-2586 MAIL ADDRESS: STREET 1: 13500 EVENING CREEK DR. #600 CITY: SAN DIEGO STATE: CA ZIP: 92128 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Warburg Pincus Private Equity VIII, L.P. CENTRAL INDEX KEY: 0001157334 IRS NUMBER: 134161869 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: C/O WARBURG PINCUS LLC STREET 2: 450 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 212-878-0600 MAIL ADDRESS: STREET 1: C/O WARBURG PINCUS LLC STREET 2: 450 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: WARBURG PINCUS PRIVATE EQUITY VIII L P DATE OF NAME CHANGE: 20010813 SC 13G/A 1 a13-26841_2sc13ga.htm SC 13G/A

 

 

UNITED STATES

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, DC 20549

 

 

 

 

SCHEDULE 13G/A

 

(Amendment No. 1)*

(Rule 13d-102)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO

RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(b)

 

Bridgepoint Education, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

10807M105

(CUSIP Number)

December 18, 2013

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o

Rule 13d-1(b)

o

Rule 13d-1(c)

x

Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 



 

CUSIP No. 10807M105

13G/A

Page 2 of 11 pages

 

 

1

Name of Reporting Persons
Warburg Pincus Private Equity VIII, L.P.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3

SEC Use Only

 

 

4

Citizenship or Place of Organization
Delaware

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5

Sole Voting Power
0

 

6

Shared Voting Power
27,710,574 (1)

 

7

Sole Dispositive Power
0

 

8

Shared Dispositive Power
27,710,574 (1)

 

 

9

Aggregate Amount Beneficially Owned by Each Reporting Person
27,710,574 (1)

 

 

10

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares  o

 

 

11

Percent of Class Represented by Amount in Row 9
62.5% (2)

 

 

12

Type of Reporting Person
PN

 


(1) The reporting person expressly disclaims beneficial ownership with respect to any shares of Common Stock (as defined below) of the Company other than the common stock of the Company owned of record by such reporting person.

(2) All percentages of Common Stock (as defined below) outstanding contained herein are based on 44,326,325 shares of Common Stock outstanding as of December 19, 2013, as given by the Company.

 



 

CUSIP No. 10807M105

13G/A

Page 3 of 11 pages

 

 

1

Name of Reporting Persons
Warburg Pincus & Co.

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3

SEC Use Only

 

 

4

Citizenship or Place of Organization
New York

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5

Sole Voting Power
0

 

6

Shared Voting Power
27,710,574 (1)

 

7

Sole Dispositive Power
0

 

8

Shared Dispositive Power
27,710,574 (1)

 

 

9

Aggregate Amount Beneficially Owned by Each Reporting Person
27,710,574 (1)

 

 

10

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares  o

 

 

11

Percent of Class Represented by Amount in Row 9
62.5% (2)

 

 

12

Type of Reporting Person
PN

 


(1) The reporting person expressly disclaims beneficial ownership with respect to any shares of Common Stock (as defined below) of the Company other than the common stock of the Company owned of record by such reporting person.

(2) All percentages of Common Stock (as defined below) outstanding contained herein are based on 44,326,325 shares of Common Stock outstanding as of December 19, 2013, as given by the Company.

 



 

CUSIP No. 10807M105

13G/A

Page 4 of 11 pages

 

 

1

Name of Reporting Persons
Warburg Pincus LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3

SEC Use Only

 

 

4

Citizenship or Place of Organization
New York

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5

Sole Voting Power
0

 

6

Shared Voting Power
27,710,574 (1)

 

7

Sole Dispositive Power
0

 

8

Shared Dispositive Power
27,710,574 (1)

 

 

9

Aggregate Amount Beneficially Owned by Each Reporting Person
27,710,574 (1)

 

 

10

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares  o

 

 

11

Percent of Class Represented by Amount in Row 9
62.5% (2)

 

 

12

Type of Reporting Person
OO

 


(1) The reporting person expressly disclaims beneficial ownership with respect to any shares of Common Stock (as defined below) of the Company other than the common stock of the Company owned of record by such reporting person.

(2) All percentages of Common Stock (as defined below) outstanding contained herein are based on 44,326,325 shares of Common Stock outstanding as of December 19, 2013, as given by the Company.

 



 

CUSIP No. 10807M105

13G/A

Page 5 of 11 pages

 

 

1

Name of Reporting Persons
Warburg Pincus Partners LLC

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3

SEC Use Only

 

 

4

Citizenship or Place of Organization
New York

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5

Sole Voting Power
0

 

6

Shared Voting Power
27,710,574 (1)

 

7

Sole Dispositive Power
0

 

8

Shared Dispositive Power
27,710,574 (1)

 

 

9

Aggregate Amount Beneficially Owned by Each Reporting Person
27,710,574 (1)

 

 

10

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares  o

 

 

11

Percent of Class Represented by Amount in Row 9
62.5% (2)

 

 

12

Type of Reporting Person
OO

 


(1) The reporting person expressly disclaims beneficial ownership with respect to any shares of Common Stock (as defined below) of the Company other than the common stock of the Company owned of record by such reporting person.

(2) All percentages of Common Stock (as defined below) outstanding contained herein are based on 44,326,325 shares of Common Stock outstanding as of December 19, 2013, as given by the Company.

 



 

CUSIP No. 10807M105

13G/A

Page 6 of 11 pages

 

 

1

Name of Reporting Persons
Charles R. Kaye

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3

SEC Use Only

 

 

4

Citizenship or Place of Organization
United States

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5

Sole Voting Power
0

 

6

Shared Voting Power
27,710,574 (1)

 

7

Sole Dispositive Power
0

 

8

Shared Dispositive Power
27,710,574 (1)

 

 

9

Aggregate Amount Beneficially Owned by Each Reporting Person
27,710,574 (1)

 

 

10

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares  o

 

 

11

Percent of Class Represented by Amount in Row 9
62.5% (2)

 

 

12

Type of Reporting Person
IN

 


(1) The reporting person expressly disclaims beneficial ownership with respect to any shares of Common Stock (as defined below) of the Company other than the common stock of the Company owned of record by such reporting person.

(2) All percentages of Common Stock (as defined below) outstanding contained herein are based on 44,326,325 shares of Common Stock outstanding as of December 19, 2013, as given by the Company.

 



 

CUSIP No. 10807M105

13G/A

Page 7 of 11 pages

 

 

1

Name of Reporting Persons
Joseph P. Landy

 

 

2

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3

SEC Use Only

 

 

4

Citizenship or Place of Organization
United States

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5

Sole Voting Power
0

 

6

Shared Voting Power
27,710,574 (1)

 

7

Sole Dispositive Power
0

 

8

Shared Dispositive Power
27,710,574 (1)

 

 

9

Aggregate Amount Beneficially Owned by Each Reporting Person
27,710,574 (1)

 

 

10

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares  o

 

 

11

Percent of Class Represented by Amount in Row 9
62.5% (2)

 

 

12

Type of Reporting Person
IN

 


(1) The reporting person expressly disclaims beneficial ownership with respect to any shares of Common Stock (as defined below) of the Company other than the common stock of the Company owned of record by such reporting person.

(2) All percentages of Common Stock (as defined below) outstanding contained herein are based on 44,326,325 shares of Common Stock outstanding as of December 19, 2013, as given by the Company.

 



 

SCHEDULE 13G/A

 

Item 1

 

(a)

Name of Issuer.
The name of the issuer is Bridgepoint Education, Inc., a corporation organized under the laws of the State of Delaware (the “Company”).

 

(b)

Address of Issuer’s Principal Executive Offices.
The Company’s principal executive office is located at 13500 Evening Creek Drive North, Suite 600, San Diego, California, 92128.

 

Item 2

 

(a)

Name of Person Filing.
This Schedule 13G is filed by Warburg Pincus Private Equity VIII, L.P., a Delaware limited partnership (and together with its two affiliated partnerships, “WP VIII”). WP VIII is the direct record owner of 27,710,574 shares of Common Stock (as defined below) of the Company. Warburg Pincus Partners LLC, a New York limited liability company (“WP Partners”), a subsidiary of Warburg Pincus & Co., a New York general partnership (“WP”), is the general partner of WP VIII. WP is the managing member of WP Partners. WP VIII is managed by Warburg Pincus LLC, a New York limited liability company (“WP LLC”). Charles R. Kaye and Joseph P. Landy, each a United States Citizen and a Managing General Partner of WP and Co-Chief Executive Officer and Managing Member of WP LLC and each may be deemed to control WP VIII, WP Partners, WP and WP LLC.  Each of Messrs. Kaye and Landy, together with WP VIII, WP Partners, WP and WP LLC are collectively referred to herein as the “Warburg Pincus Reporting Persons.”   Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership with respect to any Common Stock of the Company, other than the Common Stock owned of record by such Warburg Pincus Reporting Person.

 

(b)

Address of Principal Business Office.
The address of the principal business office of each of the Warburg Pincus Reporting Persons is 450 Lexington Avenue, New York, New York 10017.

 

(c)

Citizenship.
See Item 2(a).

 

(d)

Title of Class of Securities.
Common Stock, par value $0.01 per share (the “Common Stock”).

 

(e)

CUSIP Number.
10807M105

 

8



 

Item 3

If this statement is filed pursuant to §§240.13d—1(b) or 240.13d—2(b) or (c), check whether the person filing is a:

 

 

x

Not Applicable

 

(a)

o

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

 

(b)

o

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

 

(c)

o

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

 

(d)

o

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a—8);

 

(e)

o

An investment adviser in accordance with §240.13d—1(b)(1)(ii)(E);

 

(f)

o

An employee benefit plan or endowment fund in accordance with §240.13d—1(b)(1)(ii)(F);

 

(g)

o

A parent holding company or control person in accordance with §240.13d—1(b)(1)(ii)(G);

 

(h)

o

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 

(i)

o

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a—3);

 

(j)

o

A non-U.S. institution in accordance with §240.13d—1(b)(1)(ii)(J);

 

(k)

o

Group, in accordance with §240.13d—1(b)(1)(ii)(K).

 

 

Item 4

Ownership.

The information required by Items 4(a)-(c) is set forth in Rows 5-11 of the cover page of this Schedule 13G for each Warburg Pincus Reporting Person and is incorporated herein by reference for each such Warburg Pincus Reporting Person.

 

Item 5

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the Warburg Pincus Reporting Person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following o.

 

Item 6

Ownership of More than Five Percent on Behalf of Another Person.

Other than as set forth herein, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, in excess of 5% of the total outstanding Common Stock.

 

Item 7

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

Not applicable.

 

Item 8

Identification and Classification of Members of the Group.

The Warburg Pincus Reporting Persons are making this single, joint filing because they may be deemed to constitute a “group” within the meaning of Section 13(d) (3) of the Securities and Exchange Act of 1934, as amended. The joint filing agreement among the Warburg Pincus Reporting Persons to file this Schedule 13G was previously filed as Exhibit 99.1 to the Form 13G filed by the Warburg Pincus Reporting Persons with respect to the Company on April 20, 2009. Each Warburg Pincus Reporting Person expressly disclaims beneficial ownership of all the shares of Common Stock, except to the extent of any pecuniary interest therein.

 

Item 9

Notice of Dissolution of Group.

Not applicable.

 

Item 10

Certification.

Not applicable.

 

9



 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

 

Dated: December 20, 2013

WARBURG PINCUS PRIVATE EQUITY VIII, L.P.

 

By:

Warburg Pincus Partners LLC,

 

 

its General Partner

 

 

 

 

By:

Warburg Pincus & Co.,

 

 

 

its Managing Member

 

 

 

 

 

By:

/s/ Robert B. Knauss

 

Name:

Robert B. Knauss

 

Title:

Attorney-in-Fact*

 

 

Dated: December 20, 2013

WARBURG PINCUS PARTNERS LLC

 

 

By:

Warburg Pincus & Co.,

 

 

 

its Managing Member

 

 

 

 

 

By:

/s/ Robert B. Knauss

 

Name:

Robert B. Knauss

 

Title:

Attorney-in-Fact*

 

 

Dated: December 20, 2013

WARBURG PINCUS LLC

 

 

 

 

 

By:

/s/ Robert B. Knauss

 

Name:

Robert B. Knauss

 

Title:

Managing Director

 

 

 

 

Dated: December 20, 2013

WARBURG PINCUS & CO.

 

 

 

 

 

By:

/s/ Robert B. Knauss

 

Name:

Robert B. Knauss

 

Title:

Attorney-in-Fact*

 

 

Dated: December 20, 2013

 

 

 

 

 

 

 

 

 

By:

/s/ Robert B. Knauss

 

Name:

Charles R. Kaye

 

By:

Robert B. Knauss, Attorney-in-Fact*

 

Schedule 13G/A Signature Page

 

10



 

Dated: December 20, 2013

 

 

 

 

 

 

By:

/s/ Robert B. Knauss

 

Name:

Joseph P. Landy

 

By:

Robert B. Knauss, Attorney-in-Fact*

 

*The Power of Attorney given by each of Warburg Pincus & Co., Mr. Kaye and Mr. Landy was previously filed with the U.S. Securities and Exchange Commission on November 26, 2013 as an exhibit to a statement on Form 4 filed by Warburg Pincus Private Equity IX, L.P. with respect to Laredo Petroleum Holdings, Inc. and is hereby incorporated by reference.

 

Schedule 13G/A Signature Page

 

11