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HOUSTON - HMH Holding Inc. (NASDAQ:HMH) completed its initial public offering today, selling 10,520,000 shares of Class A common stock at $20.00 per share, according to a press release statement.
The company received net proceeds of approximately $193.8 million after deducting underwriting discounts, commissions and estimated offering expenses. The total offering size reached $210.4 million before fees.
Underwriters have a 30-day option to purchase up to an additional 1,578,000 shares at the IPO price, less underwriting discounts and commissions. Trading of HMH’s Class A common stock began on The Nasdaq Global Select Market on Tuesday under the ticker symbol HMH. The stock closed at $20.00 on its debut but has since traded at $18.82, down 5.9% from its IPO price.
J.P. Morgan, Piper Sandler and Evercore ISI served as joint lead book-running managers for the offering. Citigroup and DNB Carnegie acted as joint book-running managers, while Stifel, Nordea and Pickering Energy Partners served as co-managers.
The Securities and Exchange Commission declared the registration statement relating to the securities effective on March 31, 2026.
HMH provides drilling equipment, services and systems for oil and gas drilling operations in offshore and onshore environments. The company also offers aftermarket services and has expanded into adjacent industries including mining. The company generated $821.8 million in revenue over the last twelve months with a gross profit margin of 29.9%. According to InvestingPro analysis, HMH was profitable over the last twelve months and maintains a current ratio of 2.81, indicating strong liquidity.
The offering was conducted through a prospectus available from the underwriters and the SEC’s website.
In other recent news, HMH Holding Inc. announced the pricing of its initial public offering at $20 per share. The company plans to list 10,520,000 shares of Class A common stock on the Nasdaq. Additionally, underwriters have been granted a 30-day option to purchase up to an extra 1,578,000 shares at the same IPO price, minus any underwriting discounts and commissions. This move marks a significant step for HMH Holding as it enters the public market. These recent developments are expected to draw attention from investors and analysts alike. The pricing strategy reflects the company’s current valuation and market expectations. With the IPO, HMH Holding aims to capitalize on investor interest and expand its shareholder base.
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