Stonington to Complete Exit from Lincoln

Stonington Partners is selling off its remaining stake in Lincoln Educational Services (NASDAQ: LINC) through a secondary public offering of about 3.9 million shares of common stock. Lincoln priced the shares at $15.25 apiece, valuing the total offering at approximately $59.6 million. Barclays Capital is underwriting the offering. Lincoln provides career-oriented post-secondary education and has been backed by Stonington since 1999.