Cable news channel Newsmax set for NYSE debut after $75 mln mini-IPO

Newsmax

31/03/2025 10:10

** Conservative cable news channel Newsmax NMAX.N to debut on New York Stock Exchange under ticker symbol "NMAX"

** Florida-based NMAX sold 7.5 mln shares at $10 to raise $75 mln in its IPO under Regulation A+, or "mini-IPO", which is a scaled-down version of the traditional IPO

** NMAX has ~128.4 mln outstanding shares for $1.28 billion market cap, per SEC filing

** In February, co raised $225 mln in private placement

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))