NEW YORK - Certain stockholders of MediaAlpha, Inc. (NYSE: MAX), a technology company in the digital advertising space, have initiated a secondary public offering of 3 million shares of Class A common stock, as announced today. The selling stockholders, not the company, will receive all proceeds from this transaction.
The offering includes an option for the underwriter, J.P. Morgan, to purchase up to an additional 450,000 shares within a 30-day period. The shares will be available for purchase on the New York Stock Exchange and possibly through other avenues such as over-the-counter transactions or private negotiations.
This offering is contingent on market conditions, and there is no certainty as to the completion or timing of the sale. The registration statement and preliminary prospectus for the offering have been filed with the Securities and Exchange Commission (SEC) and can be accessed through the SEC's EDGAR system.
MediaAlpha has clarified that the company itself is not offering any new stock in this transaction and will not benefit financially from the sale. The planned sale is in accordance with the Securities Act of 1933, as amended, and is subject to registration and qualification under the securities laws of the applicable jurisdictions.
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