The Securities and Exchange Commission has qualified Newsmax to go public and complete its IPO, said Mark Elenowitz, managing director for Digital Offering LLC.
Digital Offering is handling Newsmax’s IPO with an expected listing on the New York Stock Exchange on March 31, 2025.
“This is so exciting,” Elenowitz told Newsmax host Rob Schmitt on “Rob Schmitt Tonight” Monday.
“We’ve been talking about this now since June,” he said. “The company filed in September with the SEC to be a publicly traded company, and on Friday, we got final OK.”
Elenowitz noted that Newsmax’s pre-IPO Preferred Offering had an initial target of $150 million, but the company far exceeded that, raising total proceeds of $225 million.
More than 8,000 accredited investors participated in the Preferred Offering.
Elenowitz told Schmitt that now the company is seeking to raise just another $75 million before the public listing on the NYSE this March 31.
“We’re looking to close this transaction on March 31 and be the first company under what’s called the JOBS Act to trade on the New York Stock Exchange under the symbol NMAX,” he said.
“Any investor over 18 can get in,” he added.
This means that investors have the opportunity to buy shares in the Newsmax initial public offering on March 31, Elenowitz added.
Elenowitz told Schmitt that potential investors should read the offering statement, which will “tell you everything about the offering and the company.”
“I really encourage you to look at the risk factors. And then there’s a section called FAQs, and when you decide it’s right for you, just hit invest.”
People buying shares now and during the pre-IPO can trade them when Newsmax goes public, which is slated for March 31, Elenowitz added.
Elenowitz told Schmitt that it’s a “fair statement” to say that media companies do well even when times are tough on the market.
“What’s unique about Newsmax is this is their debut,” he said. “This is the first time they’re coming out onto the public marketplace.”
Newsmax, Elenowitz added, has been going through some “pretty significant growth” after having been around for more than 24 years.
“Nielsen ratings are going up with the expansion with YouTube TV and other distribution points,” he said.
“Newsmax is really now getting to the point where mainstream America, not just the conservatives, are starting to really recognize what you’re doing,” he said.
Newsmax is now the 4th highest-rated cable news channel in the U.S., according to Nielsen.
In 2024, the Reuters Institute global survey found Newsmax was 1 of the top 12 news brands in America.
DISCLAIMER: The offering will be made only by means of an offering statement. An offering statement on Form 1-A relating to these securities has been filed with the U.S. Securities and Exchange Commission and has become qualified. The securities offered by Newsmax are highly speculative. Investing in shares of Newsmax involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue.
Newsmax intends to list the Class B Common Stock offered under this Form 1-A on the New York Stock Exchange (“NYSE”) under the symbol “NMAX” and doing so entails significant ongoing corporate obligations including but not limited to disclosure, filing and notification requirements, as well compliance with applicable continued quantitative and qualitative listing standards. For additional information on Newsmax, the offering and any other related topics, please review the offering statement that can be found https://www.sec.gov/edgar/search/#/ciks=0002026478&entityName=Newsmax%2520Inc.%2520(NMAX)%2520(CIK%25200002026478). Additional information concerning Risk Factors related to the offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the section of the offering statement entitled “Risk Factors.”
FORWARD-LOOKING STATEMENTS: This communication contains forward-looking statements. The Company bases these forward-looking statements on its expectations and projections about future events, which it derives from the information currently available to it. Such forward-looking statements relate to future events or its future performance, including: its financial performance and projections; growth in its revenue and earnings; and the Company’s business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: the Company’s ability to change its direction; its ability to keep pace with new technology and changing market needs; and the competitive environment of its business. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this communication may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about the Company. The Company is not obligated to publicly update or revise any forward-looking statement.
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