Benzinga | Jun 9, 2021 04:01PM EDT

Houghton Mifflin Harcourt Reports Results Of Asset Sale Offer, Collateral Asset Sale For $158M Of Senior Secured Notes

Learning technology company Houghton Mifflin Harcourt ("HMH" or the "Company") (NASDAQ:HMHC) announced today the results of the cash tender offer (the "Asset Sale Offer") by its wholly owned subsidiaries, Houghton Mifflin Harcourt Publishers Inc., Houghton Mifflin Harcourt Publishing Company and HMH Publishers LLC, to purchase up to $158.0 million aggregate principal amount (the "Offer Amount") of their 9.000% Senior Secured Notes due 2025 (the "Notes"), at a purchase price of 100% of the principal amount thereof plus accrued and unpaid interest to, but not including, the purchase date. The Asset Sale Offer expired at 11:59 p.m., New York City time, on June 8, 2021.



According to information provided by Global Bondholder Services Corporation, the Information Agent, as of the expiration of the Asset Sale Offer, $2,726,000 aggregate principal amount of the Notes were validly tendered and not validly withdrawn in the Asset Sale Offer. As the aggregate principal amount of the Notes validly tendered and not validly withdrawn does not exceed the Offer Amount, all validly tendered Notes that were not validly withdrawn have been accepted.

Payment for the validly tendered and not validly withdrawn Notes will be made at a purchase price of 100% of the principal amount thereof plus accrued and unpaid interest thereon to, but not including, the date of purchase (the "Purchase Date"). The Company expects the Purchase Date to be June 10, 2021. The aggregate purchase price, inclusive of accrued and unpaid interest, payable on the Purchase Date for the validly tendered and not validly withdrawn Notes will be $2,804,372.50.