Dream Center Foundation executed a definitive agreement to acquire substantially all assets from Education Management Corporation (OTCPK:EDMC) on March 3, 2017. The terms of the deal includes all the faculty and staff of South University, Argosy University and The Art Institutes and majority of the employees from Education Management's corporate offices. The sale is expected to be completed in summer of 2017. The transaction is subject to a number of operational and other closing conditions, including the receipt of regulatory approvals from the U.S. Department of Education, institutional accrediting agencies, state licensing boards and programmatic accreditation bodies. Houlihan Lokey, Inc. (NYSE:HLI) acted as financial advisor to EDMC. Lincoln International acted as financial advisor to Dream Center. Strategic Advisors, Inc acted as financial advisor to Dream Center Foundation. Dream Center Foundation completed the acquisition of substantially all assets from Education Management Corporation (OTCPK:EDMC) on October 17, 2017.