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UPDATE 1-Grand Canyon Education cuts IPO price range by $4

Wed Nov 19, 2008 7:33am EST

(Recasts, adds details)

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Nov 19 (Reuters) - Grand Canyon Education Inc, a provider of online post-secondary education services, on Wednesday cut the estimated price range for its initial public offering by $4.

The company now expects the IPO of 10.5 million shares to be priced between $12 and $14 per share, down from its prior estimate of $16 to $18 each.

In an amended filing with the U.S. Securities and Exchange Commission, the company said Credit Suisse, Merrill Lynch, BMO Capital Markets, William Blair & Co and Piper Jaffray were underwriting the IPO.

The Phoenix, Arizona-based company said it had received approval to be listed on Nasdaq under the symbol "LOPE." (Reporting by Shivani Singh in Bangalore; Editing by Himani Sarkar)

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