- Newsmax (NMAX) IPO shares sold last week for $10 a share with a $1.2 billion market cap.
- Newsmax raised $75 million for IPO.
- Newsmax Class B common shares opened trading at 10:51 a.m. ET on the NYSE.
- Within minutes shares quickly priced at over $14 a share.
- By 12 Noon ET shares were trading close to $70.
- Stock trading was halted several times throughout the day as buyers overwhelmed the exchange.
- At the 4 p.m. ET market close shares sold at $83.51 giving the company a market cap over $10 billion.
- More than 6.1 million shares of Newsmax traded Monday.
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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