SevenSaoi Capital’s Agreement for Zovio Board Seats


Olshan represented SevenSaoi Capital on the deal.

SevenSaoi Capital, LLC raised an agreement with education technology services company Zovio, as a result of which SevenSaoi’s managing member Michael P. Cole was appointed to Zovio’s board of directors as well as its compensation and merger & acquisitions oversight committees.

In addition, the agreement provides that the parties will cooperate in identifying an additional person to join the board of directors by next year’s annual meeting.

SevenSaoi Capital is a Chicago-based, long-only investment firm focused on making private equity-style, fundamentally-driven, long-term oriented investments in publicly-traded small cap companies.

Zovio (Nasdaq: ZVO) is an education technology services company that partners with higher education institutions and employers to deliver innovative, personalized solutions to help learners and leaders achieve their aspirations.

Olshan team included partner Michael Neidell (Picture) and associate Arjun Karthikeyan.

Involved fees earner: Arjun Karthikeyan – Olshan Frome Wolosky LLP; Michael Neidell – Olshan Frome Wolosky LLP;

Law Firms: Olshan Frome Wolosky LLP;

Clients: SevenSaoi Capital;