On Friday, Shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC), gained 0.56% to $23.29.
Houghton Mifflin Harcourt, declared the pricing of its secondary offering of 10,575,300 shares of its common stock at a public offering price of $23.00 per share. The shares are listed on the NASDAQ Global Select Market under the symbol “HMHC.” The shares are being offered by stockholders associated with Paulson & Co. Inc., and the Company will not receive any proceeds from the offering. The selling stockholders have granted the underwriters an option to purchase up to an additional 1,586,295 shares of common stock in the offering. The closing of the offering is predictable to occur on May 20, 2015, subject to customary closing conditions.
In addition, the Company’s predictable repurchase from such stockholders of an additional $150 million of shares of common stock at a price per share equal to the public offering price (following the formerly declared, privately negotiated agreement between the Company and the selling stockholders) is predictable to close on May 20, 2015, subject to customary closing conditions. The shares predictable to be repurchased following this agreement are separate from the shares predictable to be sold in the aforementioned public offering. The obligation for the Company to consummate the stock repurchase is conditioned upon the closing of the public offering and the sale of at least 10,575,300 shares of common stock by the selling stockholders in the public offering.
Morgan Stanley and Goldman, Sachs & Co. are acting as joint book-running managers and the representatives of the underwriters, Credit Suisse and Wells Fargo Securities are acting as book-runners and BMO Capital Markets, Houlihan Lokey, Piper Jaffray and Stifel are acting as co-managers for the offering.
Houghton Mifflin Harcourt Company provides education solutions for educational institutions and consumers worldwide. It delivers content, technology, and services to about 50 million students. The company operates in two segments, Education and Trade Publishing.
Shares of BSQUARE Corp. (NASDAQ:BSQR), surged 34.47% to $5.50, during its last trading session, hitting its highest level.
BSQUARE Corporation, declared financial results for the three months ended March 31, 2015.
- Revenue for the first quarter of 2015 was $26.3 million, a 3% enhance contrast to the fourth quarter of 2014 and a 16% enhance over the first quarter of 2014.
- Net income for the first quarter was $1.8 million, or $0.15 per share, contrast to net income of $1.4 million, or $0.12 per share, in the fourth quarter of 2014 and a net loss of $0.4 million, or $0.03 per share, in the year-ago quarter.
- Adjusted EBITDAS for the first quarter was $2.3 million, an enhance of $0.6 million contrast to $1.7 million in the fourth quarter of 2014 and an enhance of $2.1 million contrast to $0.2 million in the year-ago quarter.
- Cash and investments at March 31, 2015 were $26.8 million, up $0.2 million from December 31, 2014.
BSQUARE Corporation provides software solutions and related engineering services to companies that develop connected systems in North America, Asia, and Europe. Its proprietary software products comprise HTML5 rendering engine that is based on the open-source WebKit platform and facilitates device makers to create applications and user interfaces for their devices; TestQuest 10, a software testing automation tool, which offers test solutions for testing smart connected systems.
At the end of Friday’s trade, Shares of Graphic Packaging Holding Company (NYSE:GPK), lost -0.54% to $14.79.
Graphic Packaging Holding Company, declared that Chairman, President and Chief Executive Officer David Scheible was named Executive Papermaker of the Year by PaperAge magazine. This has been a paper industry tradition since 1988 and is awarded based on corporate vision, planned objectives and strong leadership both within the executive’s company and in the paper industry as a whole.
Mr. Scheible has been President and Chief Executive Officer of Graphic Packaging International, Inc. since January, 2007, and was named Chairman in May, 2013. GPI has undergone a transformation under his leadership, firmly establishing itself as a global, vertically-integrated pure play paperboard packaging business.
In the state of Georgia, GPI employs about 1600 people at its converting sites in Perry and Stone Mountain, paperboard mill in Macon, and its Corporate Headquarters in Sandy Springs.
Graphic Packaging Holding Company, together with its auxiliaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. The company produces a range of paperboard grades convertible into folding cartons primarily to protect products, such as food, detergents, paper products, beverages, and health and beauty aids.
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