Houghton Mifflin Harcourt’s largest shareholder John Paulson and his associated investment funds will be cashing out another couple of pieces of his investment. The recently announced $300 million in stock repurchases announced by the board apparently includes a deal to buy $150 million of stock directly from Paulson’s companies. The price per share for that side agreement is pegged to a secondary offering to the public of additional shares controlled by Paulson. That prospectus, just filed with the SEC, proposes selling up to roughly 12.16 million shares — or about 8.5 percent of shares outstanding. As with the first public offering of […]
