Transaction Summary
Piper Sandler partnered with Academy for Classical Education to structure a $7,500,000 Bank Loan. Proceeds of the 2025 Bank Loan were used to:

• Finance the construction of an approximately 27,000 square foot gymnasium that will include a separate multi-purpose space, weight room and locker rooms;
• Fund the replacement of an existing school facility parking lot;
• Pay certain costs of issuance relating to the 2025 Bank Loan.

About Academy for Classical Education ABOUT 
Academy for Classical Education (ACE) is a K-12 charter school in Macon, Georgia that has been in operation since 2014. ACE was approved for its original charter in 2013 and has been renewed two times, including its most recent five-year renewal in 2025 ending on June 30, 2030. ACE is authorized by the State Charter Schools Commission of Georgia (“SCSC”).  A five-year term is the longest charter term available in Georgia. 

ACE is the largest brick-and-mortar charter school in Georgia, currently serving over 1,800 students. ACE’s financial metrics have been robust, with an average debt service coverage ratio (DSCR) of over 2.0x and 150 days of cash on hand (DCOH) over the past three years. Additionally, ACE has consistently reinvested in its campus, spending nearly $7.4 million on capital improvements over the current fiscal year and the previous three fiscal years.