# EDGAR Filing Document

**Accession Number:** 0001316622
**File Stem:** 0000919574-25-004836
**Filing Date:** 2025-8
**Character Count:** 18024
**Document Hash:** 3f75d4447a9bf104a4f8dbe5e8e0dc26
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-004836.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0000919574-25-004836

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN PUBLIC EDUCATION INC
- **CENTRAL INDEX KEY:** 0001201792
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EDUCATIONAL SERVICES [8200]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 010724376
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-83778
- **FILM NUMBER:** 251216668

**BUSINESS ADDRESS:**
- **STREET 1:** 111 W CONGRESS STREET
- **CITY:** CHARLES TOWN
- **STATE:** WV
- **ZIP:** 25414
- **BUSINESS PHONE:** (304) 724-3700

**MAIL ADDRESS:**
- **STREET 1:** 303 W.3RD. STREET
- **CITY:** RANSON
- **STATE:** WV
- **ZIP:** 25438
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** REDWOOD CAPITAL MANAGEMENT, LLC
- **CENTRAL INDEX KEY:** 0001316622

**ORGANIZATION NAME:**
- **EIN:** 223732328
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 250 WEST 55TH ST.
- **STREET 2:** 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 201-227-5040

**MAIL ADDRESS:**
- **STREET 1:** 250 WEST 55TH ST.
- **STREET 2:** 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## Ex-99

<u>Exhibit A</u>

<u>JOINT FILING AGREEMENT</u>

The undersigned agree that this Schedule 13G Amendment No. 4 dated August 14, 2025 relating to the Common Stock, $0.01 par value per share, of American Public Education, Inc. shall be filed on behalf of the undersigned.

---

| |
|:---|
| &nbsp;&nbsp; REDWOOD CAPITAL MANAGEMENT, LLC<br>By: Redwood Capital Management Holdings, LP, its sole member<br>By: Double Twins K, LLC, its general partner<br>By: /s/ Ruben Kliksberg |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Ruben Kliksberg |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Member |

---

---

| |
|:---|
| &nbsp;&nbsp; REDWOOD CAPITAL MANAGEMENT HOLDINGS, LP<br>By: Double Twins K, LLC, its general partner<br>By: /s/ Ruben Kliksberg |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Ruben Kliksberg |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Member |

---

---

| |
|:---|
| &nbsp;&nbsp; DOUBLE TWINS K, LLC<br>By: /s/ Ruben Kliksberg |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Ruben Kliksberg |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Managing Member |

---

&nbsp;&nbsp; REDWOOD MASTER FUND, LTD.<br>By: Redwood Capital Management, LLC, its investment manager<br>By: Redwood Capital Management Holdings, LP, its sole member<br>By: Double Twins K, LLC, its general partner<br>By: /s/ Ruben Kliksberg<br>

Name: Ruben Kliksberg

Title: Managing Member

&nbsp;&nbsp; RUBEN KLIKSBERG<br>By: /s/ Ruben Kliksberg<br>

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**Issuer:** AMERICAN PUBLIC EDUCATION INC

**Title of Class of Securities:** Common Stock, $0.01 par value per share

**CUSIP Number:** 02913V103

**Date of Event Which Requires Filing of this Statement:** 06/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>REDWOOD CAPITAL MANAGEMENT, LLC | Names of Reporting Persons<br>REDWOOD CAPITAL MANAGEMENT, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>705379.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>705379.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.9% | Percent of Class Represented by Amount in Row (9)<br>3.9% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, OO | Type of Reporting Person (See Instructions)<br>IA, OO |

---

| 1. | Names of Reporting Persons<br>REDWOOD CAPITAL MANAGEMENT HOLDINGS, LP | Names of Reporting Persons<br>REDWOOD CAPITAL MANAGEMENT HOLDINGS, LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>705379.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>705379.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.9% | Percent of Class Represented by Amount in Row (9)<br>3.9% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, PN | Type of Reporting Person (See Instructions)<br>HC, PN |

---

| 1. | Names of Reporting Persons<br>DOUBLE TWINS K, LLC | Names of Reporting Persons<br>DOUBLE TWINS K, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>705379.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>705379.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.9% | Percent of Class Represented by Amount in Row (9)<br>3.9% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

| 1. | Names of Reporting Persons<br>REDWOOD MASTER FUND, LTD. | Names of Reporting Persons<br>REDWOOD MASTER FUND, LTD. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>705379.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>705379.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.9% | Percent of Class Represented by Amount in Row (9)<br>3.9% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

| 1. | Names of Reporting Persons<br>RUBEN KLIKSBERG | Names of Reporting Persons<br>RUBEN KLIKSBERG |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>705379.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>705379.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>705379.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>3.9% | Percent of Class Represented by Amount in Row (9)<br>3.9% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

**Item 1(a). Name of Issuer:**
AMERICAN PUBLIC EDUCATION INC

**Item 1(b). Address of Issuer's Principal Executive Offices:**
111 W. Congress Street, Charles Town, West Virginia 25414, United States of America

**Item 2(a). Name of Person Filing:**
Redwood Capital Management, LLC
Redwood Capital Management Holdings, LP
Double Twins K, LLC
Redwood Master Fund, Ltd.
Ruben Kliksberg

**Item 2(b). Address of Principal Business Office:**
Redwood Capital Management, LLC
250 W 55th Street
New York, NY 10019

Redwood Capital Management Holdings, LP
250 W 55th Street
New York, NY 10019

Double Twins K, LLC
250 W 55th Street
New York, NY 10019

Redwood Master Fund, Ltd.c/o Redwood Capital Management, LLC
250 W 55th Street
New York, NY 10019

Ruben Kliksbergc/o Redwood Capital Management, LLC
250 W 55th Street
New York, NY 10019

**Item 2(c). Citizenship:**
Redwood Capital Management, LLC - Delaware
Redwood Capital Management Holdings, LP - Delaware
Double Twins K, LLC - Delaware
Redwood Master Fund, Ltd. - Cayman Islands
Ruben Kliksberg - United States

**Item 2(d). Title of Class of Securities:**
Common Stock, $0.01 par value per share

**Item 2(e). CUSIP Number:**
02913V103

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

Redwood Capital Management, LLC - 705,379
Redwood Capital Management Holdings, LP - 705,379
Double Twins K, LLC - 705,379
Redwood Master Fund, Ltd. - 705,379
Ruben Kliksberg - 705,379

**(b) Percent of class:**

Redwood Capital Management, LLC - 3.9%
Redwood Capital Management Holdings, LP - 3.9%
Double Twins K, LLC - 3.9%
Redwood Master Fund, Ltd. - 3.9%
Ruben Kliksberg - 3.9%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

Redwood Capital Management, LLC - 0
Redwood Capital Management Holdings, LP - 0
Double Twins K, LLC - 0
Redwood Master Fund, Ltd. - 0
Ruben Kliksberg - 0

**(ii) Shared power to vote or to direct the vote:**

Redwood Capital Management, LLC - 705,379
Redwood Capital Management Holdings, LP - 705,379
Double Twins K, LLC - 705,379
Redwood Master Fund, Ltd. - 705,379
Ruben Kliksberg - 705,379

**(iii) Sole power to dispose or to direct the disposition of:**

Redwood Capital Management, LLC - 0
Redwood Capital Management Holdings, LP - 0
Double Twins K, LLC - 0
Redwood Master Fund, Ltd. - 0
Ruben Kliksberg - 0

**(iv) Shared power to dispose or to direct the disposition of:**

Redwood Capital Management, LLC - 705,379
Redwood Capital Management Holdings, LP - 705,379
Double Twins K, LLC - 705,379
Redwood Master Fund, Ltd. - 705,379
Ruben Kliksberg - 705,379

**Item 5. Ownership of Five Percent or Less of a Class.**

[ ] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

All of the securities reported in this Schedule 13G Amendment No. 4 are directly owned by advisory clients of Redwood Capital Management, LLC. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, $0.01 par value per share.

**Item 7. Identification and Classification of the Subsidiary**

Please see Exhibit B attached hereto.

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**REDWOOD CAPITAL MANAGEMENT, LLC**

**Date:** 08/14/2025

**By:** By: Redwood Capital Management Holdings, LP, its sole member, By: Double Twins K, LLC, its general partner, By: /s/ Ruben Kliksberg

**Name & Title:** Ruben Kliksberg, Managing Member

**REDWOOD CAPITAL MANAGEMENT HOLDINGS, LP**

**Date:** 08/14/2025

**By:** By: Double Twins K, LLC, its general partner, By: /s/ Ruben Kliksberg

**Name & Title:** Ruben Kliksberg, Managing Member

**DOUBLE TWINS K, LLC**

**Date:** 08/14/2025

**By:** By: /s/ Ruben Kliksberg

**Name & Title:** Ruben Kliksberg, Managing Member

**REDWOOD MASTER FUND, LTD.**

**Date:** 08/14/2025

**By:** By: Redwood Capital Management, LLC, its investment manager, By: Redwood Capital Management Holdings, LP, its sole member, By: Double Twins K, LLC

**Name & Title:** Ruben Kliksberg, Managing Member

**RUBEN KLIKSBERG**

**Date:** 08/14/2025

**By:** By: /s/ Ruben Kliksberg

**Name & Title:** Ruben Kliksberg