Newsmax Completes $150 Million Preferred Placement Ahead of Planned IPO, Extends Offering

 Newsmax Inc. (“Newsmax” or the “Company”) announced today that the Company has successfully raised over $150 million* in its Preferred Stock private offering, in advance of its planned Initial Public Offering, subject to SEC approval.

Due to high demand, Newsmax is extending the Preferred Stock private offering by an additional $25 million, increasing the total offering to $175 million.

“We are excited by the incredible investor interest and overwhelming support we have received for our Preferred Stock offering,” said Christopher Ruddy, CEO of Newsmax.

“This extension is a testament to the confidence our investors have in Newsmax’s future and the tremendous growth we have experienced as we prepare to go public. We look forward to bringing our company to the public markets soon, providing further access for our viewers and supporters to invest in Newsmax and our vision.”

Newsmax has confidentially submitted IPO offering materials with the SEC and is seeking a Public Offering with a planned listing on the New York Stock Exchange under the symbol “NMAX.”

For a limited-time, eligible investors are still able to invest in the private offering shares of the Company’s Series B 7% Convertible Preferred Stock. Newsmax has successfully completed the entirety of its planned $150 million for the Private Offering and the Company is now extending the total offering to $175 million.

The Preferred Shares offered are convertible preferred stock with a 7% accrued dividend. These shares are priced at a 25% discount to the expected public offering price and will be registered for trading at the time of the public offering.

This offering is solely available to accredited investors**.

Qualified prospective investors who meet the qualifications of an “accredited investor” can invest as little as $5,000 in this offering and join Newsmax as a shareholder and owner.

Additional details about the Private Offering and the contemplated Public Offering are available at www.NewsmaxInvest.com.

https://www.businesswire.com/news/home/20250109619650/en/Newsmax-Completes-150-Million-Preferred-Placement-Ahead-of-Planned-IPO-Extends-Offering