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Houghton Mifflin Harcourt Company Initiates Asset, Collateral Sale Offer to Purchase Up to $158 Million of Senior Secured Notes

05/11/2021 03:51

07:44 AM EDT, 05/11/2021 (MT Newswires) -- Houghton Mifflin Harcourt Company (HMHC), a learning technology company, said Tuesday that its wholly owned subsidiaries, Houghton Mifflin Harcourt Publishers, Houghton Mifflin Harcourt Publishing Company and HMH Publishers, are initiating a cash tender offer to purchase up to $158 million aggregate principal amount of their 9% senior secured notes due 2025 at a purchase price of 100% of the principal amount plus accrued and unpaid interest.

The asset sale offer is being made as a result of the company's sale of all of the assets, including intellectual property, used primarily in its HMH Books & Media segment in the March 26 purchase agreement.

The asset sale offer will expire at 11:59 pm ET on June 8, the company said.

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