MediaAlpha Prices Initial Public Offering
October 27 2020 - 9:15PM
Business Wire
MediaAlpha, Inc. (“MediaAlpha”) today announced the pricing of
its initial public offering of 9,250,000 shares of its Class A
common stock at a price of $19.00 per share. Of those shares,
MediaAlpha is selling 6,258,502 shares and an affiliate of White
Mountains (NYSE: WTM) is selling 2,991,498 shares as the selling
stockholder. Insignia Capital Group is also selling a portion of
its equity interests in the MediaAlpha business in connection with
the transaction. The shares are expected to begin trading on the
New York Stock Exchange on October 28, 2020 under the symbol “MAX.”
The offering is expected to close on October 30, 2020 subject to
customary closing conditions. The underwriters have a 30-day option
to purchase up to an additional 1,387,500 shares of common stock at
the initial public offering price, less underwriting discounts and
commissions.
J.P. Morgan, Citigroup, Credit Suisse, and RBC Capital Markets
are acting as joint bookrunners. Canaccord Genuity and William
Blair are acting as bookrunners. MUFG is acting as a
co-manager.
The offering is being made only by means of a prospectus. Copies
of the final prospectus, when available, may be obtained from: 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.
A registration statement on Form S-1 relating to these
securities was declared effective by the Securities and Exchange
Commission on October 27, 2020. 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/20201027006277/en/
Investors Denise Garcia Hayflower Partners
Denise@HayflowerPartners.com
Press SHIFT MediaAlpha@SHIFTComm.com
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