Newsmax likely to open up to 40% above offer price after $75 million mini-IPO

Newsmax

31/03/2025 15:53

Updates

** Conservative cable news channel Newsmax's NMAX.N shares set to open up to 40% above their offer price in their debut on New York Stock Exchange on Monday

** Stock recently indicated to open between $12 and $14 apiece vs $10 offer price

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

** At IPO price, NMAX fetched a $1.28 billion valuation

** NMAX is the latest conservative-focused company to have gone public in New York in the last few years, joining the likes of Truth Social-parent Trump Media & Technology DJT.O and video-sharing platform Rumble RUM.O

** Founded in 1998 as a digital media brand by journalist Christopher Ruddy, NMAX entered cable news market in 2014

** In February, NMAX raised $225 million in
private placement

 (Reporting by Arasu Kannagi Basil in Bengaluru)

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