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VOL. 128 | NO. 215 | Monday, November 04, 2013

Houghton Mifflin Expects to Raise as Much as $292 Million

AP

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BOSTON (AP) Houghton Mifflin Harcourt Co. said Friday that it plans to sell 18.25 million shares in its company for $14 to $16 per share in its initial public offering. At the high end of that range, the educational publisher would raise $292 million.

All of the shares are being sold by certain shareholders and the company will not receive any of the proceeds. The stockholders are expected to offer underwriters the option to buy an additional 2.7 million shares for over allotments.

Houghton Mifflin filed for Chapter 11 in May 2012 after reaching an agreement to eliminate $3.1 billion of its debt. It emerged from bankruptcy protection a month later.

The company plans to trade its shares on the Nasdaq Global Select Market under the symbol "HMHC."

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 0 76 4,504
BUILDING PERMITS 0 722 41,947
BANKRUPTCIES 59 296 16,688
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 0 80 5,365

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