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LOS ANGELES, May 07, 2024 (GLOBE NEWSWIRE) -- MediaAlpha, Inc. (“MediaAlpha”) (NYSE: MAX) today announced the pricing of the previously announced underwritten secondary public offering of 6,600,000 shares of its Class A common stock by certain selling stockholders affiliated with White Mountains Insurance Group and Insignia Capital Group (the “Selling Stockholders”) at an offering price of $19.00 per share (before discounts and commissions).
The offering is expected to close on May 10, 2024 subject to customary closing conditions. The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 990,000 shares of common stock at the offering price, less underwriting discounts and commissions. MediaAlpha is not offering any shares of its common stock in the offering and will not receive any proceeds from the offering.
J.P. Morgan and Goldman Sachs & Co. LLC are acting as joint bookrunners and representatives for the offering. BofA Securities, Canaccord Genuity, William Blair, BMO Capital Markets and Keefe, Bruyette & Woods, A Stifel Company are acting as bookrunners.
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. A preliminary prospectus supplement related to the offering has also been filed with the SEC. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-866-803-9204 or by email at prospectus-eq_fi@j pmchase.com and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, facsimile: 212-902-9316 or by email at prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.