Houghton Mifflin Harcourt (HMHC) Sees IPO Price of $14 to $16/Share

November 1, 2013 8:44 AM EDT Send to a Friend
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Houghton Mifflin Harcourt Co. (Nasdaq: HMHC) filed an amended registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. The company plans to sell 18.25 million shares and sees an offering price of $14 to $16 per share. The company plans to list on the Nasdaq Global Market under the ticker, HMHC.

The offering is being made via Goldman, Sachs & Co., Morgan Stanley, Citigroup, Credit Suisse, Wells Fargo Securities, Blackstone Capital Markets, BMO Capital Markets, Piper Jaffray, Stifel, CastleOak Securities, L.P., and Ramirez & Co., Inc.

Brief financial summary from the Company: For the nine months ended September 30, 2013 and for the years ended December 31, 2012, 2011 and 2010, our total net sales were $1,079.7 million, $1,285.6 million, $1,295.3 million and $1,507.0 million, respectively. For the nine months ended September 30, 2013 and for the years ended December 31, 2012, 2011 and 2010, our net loss was $46.5 million, $87.1 million, $2,182.4 million and $819.5 million, respectively, and our Adjusted EBITDA, a non-GAAP measure, was $270.2 million, $319.8 million, $238.2 million and $440.7 million, respectively.

Houghton Mifflin Harcourt is a leading global provider of education solutions, delivering content, technology, services and media to over 50 million students in over 150 countries worldwide.




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