<SEC-DOCUMENT>0001019056-24-000120.txt : 20240306
<SEC-HEADER>0001019056-24-000120.hdr.sgml : 20240306
<ACCEPTANCE-DATETIME>20240306182237
ACCESSION NUMBER:		0001019056-24-000120
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240306
DATE AS OF CHANGE:		20240306

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN EDUCATIONAL SERVICES CORP
		CENTRAL INDEX KEY:			0001286613
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				571150621
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	000-51371
		FILM NUMBER:		24727508

	BUSINESS ADDRESS:	
		STREET 1:		14 SYLVAN WAY
		STREET 2:		SUITE A
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
		BUSINESS PHONE:		973-736-9340

	MAIL ADDRESS:	
		STREET 1:		14 SYLVAN WAY
		STREET 2:		SUITE A
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Juniper Targeted Opportunities, LP
		CENTRAL INDEX KEY:			0001680619
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144

	BUSINESS ADDRESS:	
		STREET 1:		555 MADISON AVENUE, 24TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-339-8500

	MAIL ADDRESS:	
		STREET 1:		555 MADISON AVENUE, 24TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <filer>
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          <ccc>XXXXXXXX</ccc>
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      <liveTestFlag>LIVE</liveTestFlag>



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      <issuerName>LINCOLN EDUCATIONAL SERVICES CORP</issuerName>
      <secFileNumber>000-51371</secFileNumber>
      <issuerAddress>
        <com:street1>14 Sylvan Way, Suite A</com:street1>
        <com:city>Parsippany</com:city>
        <com:stateOrCountry>NJ</com:stateOrCountry>
        <com:zipCode>07054</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>973-736-9340</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Juniper Targeted Opportunities, L.P.</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>10% Shareholder</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>CF Secured, LLC</name>
        <address>
          <com:street1>110 East 59th Street</com:street1>
          <com:street2>21st Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>250000</noOfUnitsSold>
      <aggregateMarketValue>2462500.00</aggregateMarketValue>
      <noOfUnitsOutstanding>31759322</noOfUnitsOutstanding>
      <approxSaleDate>03/06/2024</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <acquiredDate>11/14/2019</acquiredDate>
      <natureOfAcquisitionTransaction>Private Issuance and Sale of Series A Convertible Preferred Shares(3)</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>3262714</amountOfSecuritiesAcquired>
      <paymentDate>11/14/2019</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>02/27/2024</saleDate>
      <amountOfSecuritiesSold>169592</amountOfSecuritiesSold>
      <grossProceeds>1718320.05</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>02/28/2024</saleDate>
      <amountOfSecuritiesSold>70000</amountOfSecuritiesSold>
      <grossProceeds>738898.30</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>02/29/2024</saleDate>
      <amountOfSecuritiesSold>73241</amountOfSecuritiesSold>
      <grossProceeds>715143.94</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>03/01/2024</saleDate>
      <amountOfSecuritiesSold>6423</amountOfSecuritiesSold>
      <grossProceeds>64305.68</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>03/04/2024</saleDate>
      <amountOfSecuritiesSold>2331</amountOfSecuritiesSold>
      <grossProceeds>23318.12</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>03/05/2024</saleDate>
      <amountOfSecuritiesSold>828</amountOfSecuritiesSold>
      <grossProceeds>8280.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>03/06/2024</saleDate>
      <amountOfSecuritiesSold>250000</amountOfSecuritiesSold>
      <grossProceeds>2487500.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Juniper Targeted Opportunities, L.P.</name>
        <address>
          <com:street1>555 Madison Avenue</com:street1>
          <com:street2>24th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Shares</securitiesClassTitle>
      <saleDate>03/06/2024</saleDate>
      <amountOfSecuritiesSold>36997</amountOfSecuritiesSold>
      <grossProceeds>373748.71</grossProceeds>
    </securitiesSoldInPast3Months>
    <remarks>R#1 Line 3(d) is based on $9.85 the closing per share price on March 5, 2024. R#2 Line 3(e) represents shares outstanding as of February 29, 2024, as reported on the Issuer's Quarterly report on Form 10-K filed March 5, 2024. R#3 The "Nature of Acquisition of Transaction" on November 14, 2019, Juniper Targeted Opportunities, L.P. ("Juniper Opportunities") and its affiliate, Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund") purchased from the issuer an aggregate of 11,200 shares of the Issuer's Series A Convertible Preferred Stock, no par value ("Series A Shares") for at a purchase price of $1,000 per share. Each Series A Share was convertible into 423,729 shares of Common Stock, no par value per share ("Common Shares"). On November 30, 2022, the Issuer converted each of its Series A Share into 423,729 Common Shares ("Conversion"). R#4 The "Amount of Securities Acquired" represents the number of Common Shares received by Juniper Opportunities as a result of the Conversion.</remarks>
    <noticeSignature>
      <noticeDate>03/06/2024</noticeDate>
      <signature>/s/ John A. Bartholdson for JUNIPER TARGETED OPPORTUNITIES, L.P. By: Juniper Targeted Opportunity Investors, LLC, its General Partner</signature>
    </noticeSignature>
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</SEC-DOCUMENT>
