[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Restructuring__ [@Restructuring__](/creator/twitter/Restructuring__) on x 38.5K followers Created: 2025-07-18 22:45:45 UTC 4) Capital Uses, Valuation, & Thoughts Going into this IPO, McGraw Hill holds around $3.2bn of debt against $400mm of cash, implying a net leverage ratio of around 3.8x FY 2025 adj. EBITDA. The company aims to sell 24.4mm shares priced at a range of $XX to $XX per share, with banks holding an option for an additional 3.7mm shares from Platinum if there is demand. An offering priced at the midpoint of $XXXXX would provide nearly $467mm of net proceeds, which will be used for a partial repayment of its “term loan facility.” Paying down the term loan reduces interest and lowers leverage, providing management more breathing room to further improve the business. Assuming the upper end of this valuation, McGraw Hill will have a market capitalization of around $4.2bn. Post-IPO, Platinum will continue to maintain an approximately XX% ownership stake. The offering, therefore, provides new equity capital for debt reduction while keeping ownership and control essentially unchanged. McGraw Hill’s IPO occurs during a warming market that will also include Advent and KKR-backed NIQ Global (which we will cover soon!). These offerings will test whether investors are still interested in cash generative PE-backed companies or just the hottest tech names like Circle and Figma. XXXXX engagements  **Related Topics** [stocks](/topic/stocks) [$400mm](/topic/$400mm) [debt](/topic/debt) [$32bn](/topic/$32bn) [ipo](/topic/ipo) [chapter 11](/topic/chapter-11) [Post Link](https://x.com/Restructuring__/status/1946340645230030972)
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Restructuring__ @Restructuring__ on x 38.5K followers
Created: 2025-07-18 22:45:45 UTC
- Capital Uses, Valuation, & Thoughts
Going into this IPO, McGraw Hill holds around $3.2bn of debt against $400mm of cash, implying a net leverage ratio of around 3.8x FY 2025 adj. EBITDA.
The company aims to sell 24.4mm shares priced at a range of $XX to $XX per share, with banks holding an option for an additional 3.7mm shares from Platinum if there is demand. An offering priced at the midpoint of $XXXXX would provide nearly $467mm of net proceeds, which will be used for a partial repayment of its “term loan facility.” Paying down the term loan reduces interest and lowers leverage, providing management more breathing room to further improve the business.
Assuming the upper end of this valuation, McGraw Hill will have a market capitalization of around $4.2bn. Post-IPO, Platinum will continue to maintain an approximately XX% ownership stake.
The offering, therefore, provides new equity capital for debt reduction while keeping ownership and control essentially unchanged.
McGraw Hill’s IPO occurs during a warming market that will also include Advent and KKR-backed NIQ Global (which we will cover soon!).
These offerings will test whether investors are still interested in cash generative PE-backed companies or just the hottest tech names like Circle and Figma.
XXXXX engagements
