UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): March 17, 2020
LINCOLN EDUCATIONAL SERVICES CORPORATION
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(Exact Name of Registrant as Specified in Charter)
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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200 Executive Drive, Suite 340, West Orange, New Jersey 07052
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (973) 736-9340
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading
Symbol(s)
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Name of each exchange on which
registered
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Common Stock $0.01 Par Value
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LINC
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NASDAQ
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On March 17, 2020, Lincoln Educational Services Corporation (the “Company”) announced that, due to the outbreak of the COVID-19 virus, the Company would transition its programs from classroom instruction to remote online learning, on a temporary
basis, starting Thursday, March 19, 2020, at all but one of its campuses, in order to minimize the spread of the virus and provide a healthy environment for the Company’s students. The Company’s Euphoria Institute of Beauty Arts and Sciences campus
in Las Vegas, NV is awaiting approval from the state's Board of Cosmetology regarding the ability to provide distance learning for the programs offered there. Distance learning at the campuses will continue until such time as the risk of spreading
the virus has subsided. The Company expects this operational change to be temporary and will return to traditional hands-on training programs at that time. Throughout this period of remote instruction, campuses will remain open, unless circumstances
warrant otherwise, to allow students to access Wi-Fi, if needed, or to receive additional assistance from various student services departments including Financial Aid and Career Services.
A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01 |
Financial Statements and Exhibits.
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Press Release of Lincoln Educational Services Corporation dated March 17, 2020
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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LINCOLN EDUCATIONAL SERVICES CORPORATION
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Date: March 17, 2020
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By:
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/s/ |
Brian K. Meyers
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Name:
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Brian K. Meyers
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Title:
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Executive Vice President, Chief Financial
Officer and Treasurer
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Exhibit 99.1
Press Release
Lincoln Tech Provides Remote Learning to Address Virus Outbreak
School group takes precautions to protect against potential spread of COVID-19; no campus cases reported.
WEST ORANGE, NJ – March 17, 2020– Lincoln Educational Services Corporation (NASDAQ:
LINC), a leading provider of specialized technical training, including automotive technology, the skilled trades, healthcare, IT, culinary, and cosmetology, today announced that their campuses across the country will temporarily transition from
classroom instruction to remote, distance learning in light of the current Coronavirus (Covid-19) healthcare crisis.
“As of this time, there have been no confirmed cases of Covid-19 at any of our campuses,” reported Scott Shaw, Lincoln Tech’s President and CEO. “However, in an effort to
minimize the spread of the virus, we have decided to make the transition from classroom instruction to remote online learning.”
In order to facilitate this transition, classes were cancelled for the day on Monday, March 16. Faculty and staff used that day as an in-service, curriculum development day
in order to finalize preparations for delivering their training programs via distance learning.
Some campuses will be able to initiate remote instruction as early as today, while others will require an additional day of preparation and to confirm that students are
able to effectively log in and access the curriculum remotely. Online and distance learning will begin no later than Thursday, March 19 at all but one of the campuses. Lincoln’s Euphoria Institute of Beauty Arts and Sciences campus in Las Vegas, NV
is awaiting approval from the state’s Board of Cosmetology regarding the ability to provide distance learning for the programs offered there. Distance learning at the campuses will continue until such time as the risk of spreading the virus has
subsided. Lincoln expects this operational change to be temporary and will return to their traditional hands-on training programs at that time.
Throughout this period of remote instruction, campuses will remain open, unless circumstances warrant otherwise, to allow students to access Wi-Fi, if needed, or to receive
additional assistance from various student services departments including Financial Aid and Career Services. Campuses are being cleaned with disinfectants on a daily basis.
“Our goal at Lincoln Tech remains clear – to fulfill the mission of educating our students while limiting the risk of spreading COVID-19 on our campuses and
in our communities,” Shaw says. “We are totally committed to providing a successful, healthy educational experience for our students.”
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About Lincoln Educational Services Corporation
Lincoln Educational Services Corporation is a leading provider of diversified career-oriented post-secondary education. Lincoln offers recent high school graduates and
working adults career-oriented programs in five principal areas of study: automotive technology, health sciences, skilled trades, business and information technology, and hospitality services. Lincoln has provided the workforce with skilled
technicians since its inception in 1946. Lincoln currently operates 22 campuses in 14 states under three brands: Lincoln Technical Institute, Lincoln College of Technology, and Euphoria Institute of Beauty Arts and Sciences. Lincoln also operates
Lincoln Culinary Institute in the states of Connecticut and Maryland.
For more information, go to lincolntech.edu.
Contact Information
Lincoln Educational Services Corporation
Peter Tahinos
(973) 736-9340 x49233
ptahinos@lincolntech.edu