In the hands of private equity for more than a decade, the storied brand is hoping investors will see it as successfully transformed for the digital era. A company that has name recognition among both students and their parents is going public today.

U.S. publisher McGraw Hill , backed by investment firm Platinum Equity, said on Wednesday it had raised $414.63 million in its initial public offering in the United States.

McGraw Hill's IPO was underwhelming, priced below range due to concerns about AI disruption, positioning, and significant debt load. See why MH stock is a Hold.