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Public Policy Holding Company today priced its initial public offering at $12.25 per share.
The sale of 4,150,000 raised gross proceeds of $50.8M. Of that amount, PPHC offered 3,400,000 shares, while existing shareholders sold 750,000 shares. The firm will not receive any proceeds from the selling shareholders.
With the IPO, Kathleen Casey and Charles Brown have joined the PPHC’s board as independent non-executive directors.
Casey, a former Securities & Exchange commissioner, chairs the nominating & corporate governance committee, and serves on the audit committee.
Brown, who was executive VP and general counsel at Fitch Group, hairs the audit committee and sits on the compensation committee.
PPHC’s NASDAQ stock is currently trading at $12.20. Its shares also trade on the London Stock Exchange.
PPHC owns Trailrunner International, Pine Cove Strategies, Seven Letter, Crossroad Strategies, Forbes Tate Partners, O’Neill & Assocs., Concordant, MultiState Assocs., Alpine Group Partners, Lucas Public Affairs, Pagefield and KP Public Affairs.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
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Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
