HMH's IPO
Listed Apr 1, 2026 at $20 on Nasdaq as HMH.
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What does HMH do?
“We are a leading provider of highly engineered, mission-critical equipment solutions, providing customers with a comprehensive portfolio of drilling equipment, services and systems utilized in oil and gas drilling operations, both offshore and onshore.”
| Fact | HMH |
|---|---|
| Founded | 1968 |
| Headquarters | Houston, Texas |
| Employees | 2,019, as of December 31, 2025 |
| Website | hmhw.com |
What is the offering?
Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.
| Fact | HMH |
|---|---|
| Shares offered | 10,520,000 |
| Offer price | $20 a share |
| Raised at that price | $210 million |
| Underwriters' discount | $12.6 million |
| Underwriters' option | 1,578,000 more shares |
| Underwriters | J.P. Morgan, Piper Sandler, Evercore ISI, Citigroup, DNB Carnegie, and Stifel, and 2 more |
| Exchange | Nasdaq Global Select Market, as HMH |
| Shares outstanding after | 43,097,496 |
| Market cap at the offer price | $862 million |
What the filing says about its money
| Fact | HMH |
|---|---|
| Net income | $46.1 million, year ended December 31, 2025 |
What risks does HMH name first?
- “The cyclical nature of the oil and natural gas E&P industry and volatility of oil and natural gas prices.”
- “The competition we face.”
- “Our dependence on suppliers and a limited number of customers.”
Every date of HMH's IPO
| What | Day |
|---|---|
| Priced | Mar 31, 2026 |
| First trade | Apr 1, 2026 |
| Registration filed | Sep 28, 2026 |
| Declared effective by the SEC | Oct 20, 2026 |
| Lock-up ends | Sep 27, 2026 |
How did its first days trade?
From its daily bars, each close against its $20 offer price.
| Day | Open | Close | From the offer |
|---|---|---|---|
| Apr 1 | $18.90 | $19.28 | -3.6% |
| Apr 2 | $19.57 | $18.82 | -5.9% |
| Apr 6 | $18.82 | $18.60 | -7.0% |
| Apr 7 | $18.43 | $18.25 | -8.8% |
| Apr 8 | $17.26 | $16.89 | -15.5% |
The other IPOs expected
| Company | Price |
|---|---|
| $19 to $21 | |
| $15 to $17 | |
| $15 to $17 | |
| $7 | |
| $5 to $7 |
HMH IPO questions
When is HMH's IPO?
Listed Apr 1, 2026 at $20 on Nasdaq as HMH.
What is HMH's IPO price?
HMH's IPO priced at $20 a share, per its final prospectus of Apr 1, 2026.
How many shares is HMH selling?
10,520,000 shares, and the underwriters may buy 1,578,000 more, per its final prospectus (424B4).
Who are the underwriters?
J.P. Morgan, Piper Sandler, Evercore ISI, Citigroup, DNB Carnegie, Stifel, Nordea, and Pickering Energy Partners, as the prospectus's cover names them.
When does the lock-up end?
HMH's IPO lock-up ends Sep 27, 2026. Its final prospectus says: “.”
Does Breakaway rate HMH?
Breakaway scores a new stock from its second trading day, ranked against every US stock it scores. For its first 21 sessions the page says New listing in place of the tier, and each check that needs more history waits for it.
Can Breakaway say where HMH's price will go?
No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.
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