HMHC - HMHC STOCK NEWS

Houghton Mifflin Harcourt (HMHC) has completed its cash tender offer for up to $158.0 million of its 9.000% Senior Secured Notes due 2025. The offer expired on June 8, 2021, with $2,726,000 of the notes validly tendered. All validly tendered notes will be purchased at 100% of the principal amount plus accrued interest, totaling $2,804,372.50. The purchase date is expected to be June 10, 2021. The press release emphasizes that it is informational and does not constitute an offer in jurisdictions where it would be unlawful.

Houghton Mifflin Harcourt has announced significant improvements in student reading skills at Brewbaker Primary School using Amira Learning, an AI-driven reading assistant. The partnership, initiated in November 2020, has enabled over 300 K-2 students to master reading amid hybrid learning conditions. Within two months, second graders doubled their correct reading pace. Amira also reduced teachers' workload by providing accurate reading data, granting them 30 more minutes weekly for individualized instruction. The AI tool boasts a 95% accuracy rate in dyslexia detection.

On May 11, 2021, Houghton Mifflin Harcourt (HMHC) announced a cash tender offer to buy up to $158 million of its 9.000% Senior Secured Notes due 2025. The offer is part of the company's strategic plan following the sale of assets from its HMH Books & Media segment to HarperCollins Publishers. The Asset Sale Offer will expire on June 8, 2021, unless extended. Funds for this purchase will come from cash on hand from the asset sale. Noteholders are encouraged to review the detailed Offer Documents for more information.

On May 10, 2021, Houghton Mifflin Harcourt (HMH) announced the completion of the divestiture of its consumer publishing segment, HMH Books & Media, to HarperCollins Publishers for $349 million. Net proceeds to HMH were about $337 million after fees. This move supports HMH's Digital First strategy, enhancing its focus on the K-12 education market and accelerating growth in digital sales, recurring revenue, and free cash flow. The transaction is expected to improve HMH's capital structure by paying down a significant portion of its debt, thereby positioning the company for future success.

Houghton Mifflin Harcourt (HMHC) reported its Q1 2021 financial results with a 3.7% decline in net sales, totaling $146 million. Despite this, the company experienced an 11% increase in billings, driven by strong international sales. Key highlights include an impressive 80% year-over-year growth in Annualized Recurring Revenue (ARR) to $65 million and a loss from continuing operations of $49 million, significantly improving from $338 million in Q1 2020. HMH also reported a positive Adjusted EBITDA of $15 million, the first since becoming public.

Houghton Mifflin Harcourt (HMH) has announced the release date of its first quarter 2021 financial results, set for May 6, 2021, prior to market opening. A conference call detailing these results will occur the same day at 9:30 a.m. ET, available via webcast. HMH, a leading K–12 learning technology company, emphasizes its commitment to enhancing student outcomes and engaging educators. The company serves over 50 million students and 3 million educators worldwide and plans to discuss its digital growth strategy and operational outcomes during the upcoming call.

Jasper County School District (JCSD) has partnered with the International Center for Leadership in Education (ICLE), a division of Houghton Mifflin Harcourt (HMH), to enhance educational practices district-wide. This initiative aims to support approximately 2,700 students while addressing challenges from the COVID-19 pandemic. JCSD plans to develop a rigorous K-12 curriculum focusing on instructional delivery. Beginning this spring and continuing through the 2021-22 school year, ICLE will assist JCSD in implementing strategies for improved teaching and learning outcomes based on research-backed frameworks.

Houghton Mifflin Harcourt (HMHC) is introducing new flexible education models to support K-12 schools in addressing learning disruptions caused by COVID-19. A study indicates 97% of educators reported 'loss of learning' among students. HMH's intervention programs, like READ 180 and MATH 180, have shown significant student growth potential. New offerings include 'Acceleration For All', which combines interventions with AI-driven assessments. School districts, such as Paulding County, Georgia, have reported substantial improvements in student performance using HMH's solutions.

On March 29, 2021, Houghton Mifflin Harcourt (HMH) announced the divestiture of its consumer publishing business, HMH Books & Media, to HarperCollins Publishers for $349 million. This strategic move allows HMH to concentrate on K–12 education and enhance its digital sales, recurring revenue, and free cash flow, while significantly reducing debt. HMH has updated its 2021 outlook, projecting billings between $905 million and $955 million and a free cash flow margin of 9% to 11%. The transaction is expected to close in Q2 2021, subject to regulatory approvals.