By Phil Wahba

NEW YORK, April 1 (Reuters) - Bridgepoint Education Inc (BPI.N: Quote, Profile, Research) disclosed the terms of its IPO on Wednesday and might be gearing up to choose a pricing date for the $202.5 million deal.

Bridgepoint, a San Diego-based provider of online and in-class education services, which initially filed in December without the terms, said in a regulatory filing it plans to sell 13.5 million shares for between $14 and $16.

The market for IPOs remains sluggish in the United States, with only two IPOs since August, but one of those, by Bridgepoint rival, Grand Canyon Education Inc (LOPE.O: Quote, Profile, Research), has performed well, with its shares up 38.75 percent over the offer price since the IPO in November.

The main bookrunners on the Bridgepoint IPO are Credit Suisse Group AG (CSGN.VX: Quote, Profile, Research) and JP Morgan Chase & Co (JPM.N: Quote, Profile, Research), who will have the option to purchase an additional 2.025 million shares, meaning the IPO could raise as much as $248.4 million if it prices at the top end of the estimate range.

The majority of the shares will be offered by existing shareholders, including private equity firm Warburg Pincus which owns 89.5 percent of the shares, according to the filing. After the IPO, Warburg Pincus will still own about 68.5 percent of Bridgepoint.

The U.S. IPO market is starting to show some signs of life following last month's IPO by pediatrics nutrition maker Mead Johnson Nutrition Co (MJN.N: Quote, Profile, Research), the largest in nearly a year.

On Wednesday, Rosetta Stone Inc (RST.N: Quote, Profile, Research), which provides language instruction products, set the terms for its $100 million IPO, expected to price in mid-April, while Chinese video game maker Changyou.com Ltd's (CYOU.O: Quote, Profile, Research) IPO was set to price on Wednesday.

Bridgepoint's student enrollment rose 150 percent in 2008 to 31,558, while revenues jumped 155 percent to $218.3 million, the company disclosed in its filing.