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MediaAlpha, Inc. reports developments tied to its programmatic customer acquisition platform for the insurance industry. The company connects insurance carriers with online shoppers through marketplaces serving property and casualty, health, life insurance and related categories, with revenue tied to consumer referrals sold through its platform.
Recurring updates include quarterly and annual results, transaction activity in insurance verticals, carrier participation, the Open Marketplace, AI-powered targeting and conversational insurance-shopping tools, share repurchases, board composition, governance matters and workplace-culture recognition.
MediaAlpha, Inc. (NYSE: MAX) has completed its initial public offering, selling 7,027,606 shares of Class A common stock at $19.00 per share. This total includes 769,104 shares sold under the underwriter's option. Additionally, an affiliate of White Mountains sold 3,609,894 shares, also with 618,396 shares sold under their option. The shares began trading on the NYSE on October 28, 2020. The offering was facilitated by several financial institutions, including J.P. Morgan and Citigroup, and was officially registered with the SEC on October 27, 2020.
White Mountains Insurance Group, Ltd. (NYSE: WTM) announced the pricing of MediaAlpha, Inc.'s initial public offering (IPO) of 9,250,000 shares at $19 each, set to trade on the NYSE under the ticker 'MAX' starting October 28, 2020. This IPO values MediaAlpha at approximately $1.2 billion. White Mountains will sell 2,991,498 shares and, post-offering, retain a 33% ownership stake valued at about $400 million. The offering is expected to close on October 30, 2020.
MediaAlpha has announced the pricing of its initial public offering (IPO) of 9,250,000 shares of Class A common stock at $19.00 each. MediaAlpha will offer 6,258,502 shares while an affiliate of White Mountains will sell 2,991,498 shares. The shares are set to begin trading on the NYSE under the symbol 'MAX' on October 28, 2020, with the offering closing on October 30, 2020, pending customary conditions. Underwriters have a 30-day option to purchase up to an additional 1,387,500 shares. Key underwriters include J.P. Morgan and Citigroup.
White Mountains Insurance Group announced that MediaAlpha has filed a registration statement on Form S-1 with the SEC for an initial public offering (IPO) of its Class A common stock. MediaAlpha aims to list its shares on the NYSE under the ticker MAX. Shares will be sold by MediaAlpha and an affiliate of White Mountains. The number of shares and pricing details remain undetermined, and the offering's completion is subject to market conditions. The registration statement is pending effectiveness and does not constitute an offer to sell these securities.