https://www.idahoednews.org/features/university-of-phoenix/we-hope-to-keep-them-interested-u-of-i-gets-more-time-to-negotiate-a-phoenix-deal/
First, the U of I will receive $5 million from Phoenix. That money will cover some of the due diligence costs the U of I has incurred while pursuing a purchase, university spokeswoman Jodi Walker said Friday. The U of I has spent at least $11 million on Phoenix-related consulting.
Second, the extension allows Phoenix and its owner, Apollo Global Management, to talk to other buyers. It also gives the private university the option of going public, by pursuing an initial public offering.
Third, it assures the U of I “breakup” fees if its deal doesn’t close. The university would receive an additional $5 million if Phoenix doesn’t sell to anyone — and $15 million if Phoenix chooses a new buyer or pursues an IPO.