Education Tech Firm McGraw Hill Raises $414.6 Million in IPO

McGraw Hill Inc.raised $414.6 million in its US initial public offering, pricing shares of the education company below its marketed range.

The Columbus, Ohio-based firm sold 24.39 million shares for $17 each, according to a statement Wednesday confirming an earlier Bloomberg News report. The company marketed shares at $19 to $22 each, according to an earlier US Securities and Exchange Commission filing.

At the IPO price, McGraw Hill has a market value of $3.2 billion based on the outstanding shares listed in the filing.

Platinum Equity bought the business from Apollo Global Management Inc. in 2021 for ...