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.

(Bloomberg) -- McGraw Hill Inc. shares were flat after the company raised $414.6 million in its US initial public offering. Shares of the education tech firm closed at $17 each on Thursday in New York, the same as the IPO price. The offering of 24.39 million shares was marketed in a range of $19 to $22 each.

McGraw Hill shares moved lower in their trading debut after the education publisher’s initial public offering was priced below expectations. The Columbus, Ohio, company late Wednesday said it was selling nearly 24.4 million shares at $17 apiece, short of the $19 to $21 price range it had telegraphed.