BOSTON - Houghton Mifflin Harcourt Company (“HMH” or the “Company”) today announced the pricing of its initial public offering of 18,250,000 shares of its common stock at a public offering price of $12.00 per share. The shares are expected to begin trading on November 14, 2013, on the NASDAQ Global Select Market under the symbol “HMHC.” The shares are being offered solely by the Company’s existing stockholders and the Company will not receive any proceeds from the offering. Certain selling stockholders have granted the underwriters an option to purchase up to an additional 2,737,500 shares of common stock to cover over-allotments, if any. The offering is expected to close on November 19, 2013, subject to customary closing conditions.
Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as joint book-running managers and the representatives of the underwriters, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC are acting as book-runners, and Blackstone Advisory Partners L.P., BMO Capital Markets Corp., Piper Jaffray & Co., Stifel, Nicolaus & Company, Incorporated, CastleOak Securities, L.P. and Samuel A. Ramirez & Company, Inc. are acting as co-managers for the offering.
When available, copies of the final prospectus related to the offering may be obtained from:
Goldman, Sachs & Co.
Attention: Prospectus Department
200 West Street
New York, NY 10282
Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
The registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”). The offering of these securities was made only by means of a prospectus forming part of the effective registration statement. A copy of the registration statement can be accessed through the SEC’s website. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Houghton Mifflin Harcourt Company
Houghton Mifflin Harcourt Company is a leading global provider of education solutions, delivering content, technology, services and media to over 50 million students in over 150 countries worldwide. The Company delivers its offerings to both educational institutions and consumers around the world. In the United States, it is the leading provider of kindergarten through twelfth grade, or K-12, educational content by market share. Since 1832, it has published trade and reference materials, including adult and children’s fiction and non-fiction books that have won industry awards such as the Pulitzer Prize, Newbery and Caldecott medals and National Book Award.
Certain statements made in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the Company’s registration statement on Form S-1 filed with the SEC.