First-Ever IPO for Benefit Corporation

Business Journal reports that Laureate Education Inc., a privately held company based in Baltimore, filed on Friday for an initial public offering. Technically Baltimore and other outlets are also reporting the Laureate is re-domiciling as a Delaware public benefit corporation (although some outlets are confusing that classification under Delaware law with private certification as a benefit company by such private certifiers as B-Lab.  According to Professor Alicia Plerhoples of SocEntLaw, this is the first initial public offering ever by a benefit corporation.

The company's S-1 filing can be found at the Securities and Exchange Commission's Edgar database.