Newsmax Announces Initial Public Offering
Newsmax Inc announces the launch of its initial public offering, inviting investors nationwide to become shareholders in its television and digital media platforms. Last week the company’s Offering Statement was qualified by the Securities and Exchange Commission. Newsmax is looking to raise up to $75 million
with a planned March 31, 2025 listing on the New York Stock Exchange under the ticker symbol NMAX, subject to NYSE approval. This IPO comes shortly after it completed a private Preferred Offering in February raising $225 million. Newsmax CEO Christopher Ruddy says, “Our success with our Preferred raise shows the enormous support our company has as we made thousands of Americans part owners in Newsmax. Now, the initial public offering opens the door for tens of thousands more to join our news revolution and be a part of the first ever company to complete a crowd financed offering on to the main board of the NYSE.”
investors are defined by the Securities and Exchange Commission’s Rule 501(a) as individuals with a net worth greater than $1 million – excluding their primary residence – or incomes in excess of $200,000 in the last two years with the expectation of the same in the current year – or $300,000 with a spouse.) Last month, Newsmax announced that it would seek to become a public company later in 2024 or in early 2025 with a listing on the NYSE or Nasdaq. In preparation for this contemplated public offering, Newsmax has launched a private placement offering seeking to raise up to $225 million. Ruddy states, “We are excited to connect with the tens of thousands of investors nationwide who have already shown interest in investing in Newsmax. There is much to be enthusiastic about Newsmax, including significant growth in our audience, a surge in interest in conservative media and our expanding portfolio of platforms and distribution. Now more than ever — especially in this election year of 2024 — America needs Newsmax. We look forward to sharing more details with everyone who tunes in to the webinar.”