Banker Elenowitz to Newsmax: 'Never Seen Anything Like' Newsmax's NYSE Debut

The investment banker who handled Newsmax's IPO and listing said Tuesday he has "never seen anything like" Newsmax's debut on the New York Stock Exchange, describing the news organization's first day as a publicly traded company as simply exhilarating.

Mark Elenowitz, managing director of Digital Offering LLC said the NYSE listing Monday "really shows the power and the commitment of all the viewers that have supported Newsmax to date."

Elenowitz appeared on Newsmax's "Wake Up America" on Tuesday.

"Those viewers have become investors, and they're supporting everything that you and the rest of the anchors have been doing at Newsmax and really getting the visibility for your programing, your content and showing America that Newsmax is here to stay," he said.

More than 6 million shares traded hands Monday during Newsmax Inc.'s initial public offering on the New York Stock Exchange, giving the company a market cap at times that exceeded $10 billion.

The stock was slated to open at $10 per share but opened instead at $14 per share and closed at $83.51 per share Monday.

Digital Offering LLC served as the lead selling agent for the public offering.

Asked what he feels is drawing people to Newsmax, Elenowitz pointed to the "fair and balanced reporting," especially during the past election.

"We saw through the election that Newsmax, every month, their viewership increased, Nielsen ratings increased, but most importantly, the distribution has increased," he added.

"They recently signed a deal with YouTube TV that continues to expand their distribution and reach. On any given month, there's between 40 and 60 million potential viewers that are able to see the Newsmax content. I think what we found is that Americans and people from around the world are looking for a new news source that gives them the type of information that they want to hear."

Newsmax is really "just entering the next phase of its growth," Elenowitz said, which is causing other media outlets to sit up and take notice.

"Being a public company, the company has now — through our efforts and all the supporters — raised over $300 million, and that money is going to go to work to help continue to grow the business and expand the business," he said.

"Yesterday, the coverage was from CNBC, from The Wall Street Journal, Forbes, Bloomberg," Elenowitz said. "Really the world woke up and said, Who is this company? And suddenly, now, we're everywhere.

"It's exciting. The stock traded well, investors paid attention, but most importantly, other news channels paid attention, and that's what I think everybody should be excited about."

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