Three months after walking away from negotiations with the University of Idaho, the University of Phoenix is going public.

The for-profit online giant announced plans on Friday for a $100 million initial public offering.

Phoenix Education Partners filed for the IPO with the Securities and Exchange Commission under the name AP VIII Queso Holdings, according to Stamford, Conn.-based Renaissance Capital, which tracks IPO filings.

Phoenix Education Partners plans to change this name.

The for-profit booked $990 million in revenue for the 12-month period ending May 31, Renaissance Capital reported. The University of Phoenix has a national enrollment of roughly 80,000.

Phoenix’s move toward an IPO is not unexpected, and has been on the table for months.

In June 2024, the State Board of Education allowed Phoenix to consider pursuing an IPO, or another buyer, while continuing to negotiate with the University of Idaho.

Phoenix and the U of I formally broke off their talks in June, ending the U of I’s two-year pursuit of a $685 million purchase. But as part of the breakup, Phoenix agreed to pay the U of I $17.2 million, to cover purchase-related legal bills and consulting costs.

The U of I has spent upwards of $17 million on a possible Phoenix purchase, Idaho Education News reported last week.