HMH Holding prices IPO at $20 per share to raise $210.4 million

HMH Holding Inc. priced its initial public offering at $20 per share for 10.52 million shares of Class A common stock, the Houston-based company announced March 31. The offering is expected to raise $210.4 million.

The underwriters have a 30-day option to purchase up to an additional 1.58 million shares at the IPO price, less underwriting discounts and commissions. If exercised in full, the offering could raise approximately $242 million.

The shares are expected to begin trading on the Nasdaq Global Select Market on April 1 under the ticker symbol "HMH." The offering is expected to close on April 2, subject to customary closing conditions.

J.P. Morgan, Piper Sandler and Evercore ISI are serving as joint lead book-running managers for the offering. Citigroup and DNB Carnegie are acting as joint book-running managers, while Stifel, Nordea and Pickering Energy Partners are co-managers.

HMH provides drilling equipment, services and systems for oil and gas operations both offshore and onshore. The company also offers aftermarket services and is expanding into adjacent industries such as mining.

The Securities and Exchange Commission declared the registration statement for the securities effective on March 31, according to the press release.

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