MediaAlpha Announces Closing of Initial Public Offering
October 30 2020 - 2:07PM
Business Wire
MediaAlpha, Inc. (NYSE: MAX), today announced the closing of its
initial public offering of shares of its Class A common stock.
MediaAlpha sold 7,027,606 shares of its Class A common stock at a
price of $19.00 per share, which included 769,104 shares of Class A
common stock sold pursuant to the option granted to the
underwriters by MediaAlpha, which was exercised in full prior to
the closing. An affiliate of White Mountains (NYSE: WTM) sold
3,609,894 shares as the selling stockholder, which included 618,396
shares of Class A common stock sold pursuant to the option granted
to the underwriters by the selling stockholder, which was exercised
in full prior to the closing. Insignia Capital Group also sold a
portion of its equity interests in the MediaAlpha business in
connection with the transactions.
The shares began trading on the New York Stock Exchange on
October 28, 2020 under the symbol “MAX.”
J.P. Morgan, Citigroup, Credit Suisse, and RBC Capital Markets
acted as joint bookrunners. Canaccord Genuity and William Blair
acted as bookrunners. MUFG acted as a co-manager.
A registration statement relating to the securities sold in the
offering has been declared effective by the Securities and Exchange
Commission (“SEC”) on October 27, 2020. The offering was made only
by means of a prospectus. A copy of the final prospectus relating
to the securities has been filed with the SEC and may be obtained
by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at
prospectus-eq_fi@jpmorgan.com or by telephone at (866) 803-9204; or
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800)
831-9146.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20201030005665/en/
Investors Denise Garcia Hayflower Partners
Denise@HayflowerPartners.com
Press SHIFT MediaAlpha@SHIFTComm.com
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