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MediaAlpha, Inc. announced the pricing of a secondary public offering of 6,600,000 shares of its Class A common stock by certain selling stockholders at $19.00 per share. The offering is expected to close on May 10, 2024. MediaAlpha is not offering any shares and will not receive any proceeds from the offering.
MediaAlpha, Inc. announced a secondary public offering of 6,000,000 shares of its Class A common stock by Selling Stockholders, with an option for additional shares. MediaAlpha is not offering any shares in the offering, with all proceeds going to the Selling Stockholders. J.P. Morgan and Goldman Sachs are acting as joint bookrunners for the offering.
MediaAlpha, Inc. (NYSE: MAX) reported strong first quarter 2024 financial results with revenue of $126.6 million, up 13% year over year, and Transaction Value of $219.1 million, a 13% increase. With a focus on the Property & Casualty (P&C) vertical, the company saw significant growth and improvement in financial metrics. The CEO, Steve Yi, highlighted the positive start to the year, expecting to capitalize on the P&C market rebound. The company projects substantial growth in the second quarter, with Transaction Value in P&C estimated to be 60-70% higher than Q1 levels. Revenue is expected to increase by 77% year over year, with adjusted EBITDA projected to grow by 359% at the midpoint of the guidance range.
