Newsmax Inc.'s initial public offering on the New York Stock Exchange Monday raised $7.447 billion in market capitalization, with more than six million shares trading hands and the stock closing at $83.51 a share.
On Monday Newsmax's Class B Common Stock began trading on the New York Stock Exchange under the symbol “NMAX.” The stock was slated to open at $10 a share but opened at $14 a share.
Newsmax successfully raised $75 million in its initial public offering under Regulation A+ as well as $225 million in a private preferred offering, which closed in February.
Digital Offering LLC acted as the lead selling agent for the public offering.
Investors can buy shares in Newsmax now through their broker.
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About Newsmax
Newsmax Inc. is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc.
Newsmax Media, Inc. is the parent company of Newsmax Broadcasting LLC and a multimedia company that offers Americans independent news.
Since its founding in 1998 by Christopher Ruddy, an award-winning journalist, Newsmax has become a go-to place for Americans seeking real news and opinion.
Newsmax operates the Newsmax channel, now the fourth highest-rated cable news channel, according to Nielsen, and available on all major cable systems and OTT platforms.
Newsmax's media properties reach more than 40 million Americans regularly through the Newsmax channel, its free streaming channel Newsmax2, the Newsmax app and its streaming service Newsmax+, its website Newsmax.com, and publications like Newsmax magazine.
Forbes calls Newsmax “a news powerhouse.” Last year the Reuters Institute global survey found that Newsmax was one of the top 12 U.S. news brands.
Through its media outlets Newsmax champions a free press, one that provides Americans with balanced coverage, diverse viewpoints, and open debates on the issues affecting our lives.
Newsmax Inc., based in Boca Raton, Fla., with offices in Washington, D.C. and New York City, was a privately held company headed by its CEO and majority shareholder Christopher Ruddy.
For more information about investing in Newsmax, Go Here Now.
About Digital Offering, LLC:
Digital Offering, LLC, a leader in crowd financed public offerings, is a next generation investment bank with a focus on technology and innovation utilizing The Jumpstart Our Business Startups Act, or JOBS Act.
FORWARD-LOOKING STATEMENTS: This communication contains forward-looking statements. The Company bases these forward-looking statements on its expectations and projections about future events, which it derives from the information currently available to it. Such forward-looking statements relate to future events or its future performance, including: its financial performance and projections; growth in its revenue and earnings; and the Company’s business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: the Company’s ability to change its direction; its ability to keep pace with new technology and changing market needs; and the competitive environment of its business. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this communication may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about the Company. The Company is not obligated to publicly update or revise any forward-looking statement.
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