HOUSTON, April 1, 2026 – Baker Botts L.L.P., a leading international energy, technology, and life sciences law firm, represented HMH Holding Inc. (“HMH”), an oilfield equipment and services provider, in its initial public offering of 10,520,000 shares of its Class A common stock at $20.00 per share. The underwriters will have a 30-day option to purchase up to an additional 1,578,000 shares of Class A common stock from HMH at the initial public offering price, less underwriting discounts and commissions. The shares of Class A common stock are expected to begin trading on The Nasdaq Global Select Market on April 1, 2026 under the ticker symbol “HMH.” The offering priced on March 31, 2026 and is expected to close on April 2, 2026, subject to customary closing conditions.

J.P. Morgan, Piper Sandler and Evercore ISI are acting as joint lead book-running managers for the offering, and Citigroup and DNB Carnegie are acting as joint book-running managers for the offering. Stifel, Nordea and Pickering Energy Partners are acting as co-managers for the offering.

HMH is 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.

HMH’s predecessor, HMH Holding B.V., was formed in October 2021 through the combination of Baker Hughes’s (Nasdaq: BKR) Subsea Drilling Systems pressure control business and Akastor ASA’s (Oslo: AKAST) MHWirth AS drilling equipment business. 

The offering is being conducted through an umbrella partnership-C corporation, or “Up-C,” structure. Following the offering and related reorganization transactions, HMH will be a holding company, and its sole material asset will be an equity interest in the operating partnership, HMH Holding B.V., which will continue to hold HMH’s operating assets. Baker Hughes and Akastor ASA, as pre-offering owners, will retain their interests in the operating partnership and may exchange such interests over time, together with shares of HMH’s Class B common stock, for cash or shares of HMH’s Class A common stock.  

HMH’s news release on the pricing of the offering can be found here. 

Baker Botts Lawyers/Offices Involved:

Corporate: James Marshall (Partner, Houston); Josh Davidson (Senior Counsel, Houston); Lakshmi Ramanathan (Special Counsel, Houston); Parker Hinman (Senior Associate, Houston); Sarah Dyer (Associate, Houston); Brevan Ward (Associate, Houston); Treyton Zanutto (Associate, Houston)

Tax: Derek Green (Partner, Houston); Jon Lobb (Partner, Houston); Nick Frey (Associate, San Francisco)

Executive Compensation and Benefits: Ron Aizen (Partner, New York)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

Advisory: Thomas Fina (Senior Counsel, Washington)

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.