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Houghton Mifflin takes in tenders of $2.73 million under offer for 9% notes
By Wendy Van Sickle
Columbus, Ohio, June 9 – Houghton Mifflin Harcourt Publishers Inc., Houghton Mifflin Harcourt Publishing Co. and HMH Publishers LLC announced results of their cash tender offer for up to $158 million of their 9% senior secured notes due 2025, according to a press release.
By the expiration of the offer at 11:59 p.m. ET on June 8, holders had tendered $2,726,000 of the notes.
The notes will be purchased at par plus interest to the purchase date.
The offer was made on May 11 because of Houghton Mifflin Harcourt’s sale of all of the assets, including intellectual property, used in its HMH books and media segment to HarperCollins Publishers LLC, with News Corp. as guarantor for HarperCollins. The indenture governing the notes requires that the company make an offer to repurchase the notes due to an asset sale.
Funding for the offer is coming from cash on hand from the proceeds of the asset sale.
The asset sale offer documents will be distributed to noteholders by the company.
Houghton Mifflin Harcourt is a learning technology company based out of Boston.
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