MediaAlpha Inc., a customer acquisition channel maker, has filed Amendment No 1 to Form S-1 Registration Statement on October 20, 2020 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $176 million by offering 9.3 million shares at the price range of $18 to $20. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $1.1 billion.
The company helps insurance carriers and distributors target and acquire customers more efficiently and at greater scale through its technology platform. They make over $1 billion in Transaction Value across their platform over the last two years.
The Los Angeles, California-based company was founded in 2012 and booked $480 million in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol “MAX.” J.P. Morgan, Citi, Credit Suisse, RBC Capital Markets, Canaccord Genuity and William Blair are underwriters of the IPO.
The company engages Cravath, Swaine & Moore LLP as US Securities Counsel, and PricewaterhouseCoopers LLP as Independent Auditor.
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