Houghton Mifflin Harcourt Prices IPO At $12/shr, Below Estimated Range

(RTTNews) - Houghton Mifflin Harcourt Company, a provider of education solutions, delivering content, technology, services and media , announced the pricing of initial public offering of 18.25 million common shares at $12.00 per share, below its expected price range. The offering is expected to close on November 19, 2013.

In the amended S-1 filing with the SEC, the company had expected the pricing between $14.00 and $16.00 per share.

The Boston-based company shares are expected to begin trading on November 14, 2013, on the NASDAQ Global Select Market under the symbol "HMHC."

The company, that emerged from bankruptcy last year, said that its shares are being offered solely by the Company's existing stockholders and the Company will not receive any proceeds from the offering.

The selling stockholders, including hedge fund billionaire John Paulson, Anchorage Funds, Avenue Capital Management II LP, and Blackrock Funds.

Certain selling stockholders have granted the underwriters an option to purchase up to an additional 2.74 million shares of common stock to cover over-allotments, if any, the company added.

Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as joint book-running managersfor the offering.