The first appearance of NewMax shares may be talking about Wall Street, but the investment bank behind the deal is not usually associated with the most subscribers in the sector.
Instead of using a large consulting company like Goldman Sachs or Morgan Stanley, NEWSMAX used a relatively mysterious consultant: Laguna Beach, California -based California LLC, which includes 10 full -time registered bankers, three of whom are key investment bankers. The company, headquartered in the company, said that the first appearance of shares helped put the bank on the map and is already leading new works to the company.
“It’s huge for us,” Illinoes told Business Insider in an interview. “The small bomb community knows who we are, but the rest of Wall Street did not do it.”
The digital offer provides advice to companies whose value is estimated at one billion dollars or less-what is considered the small potatoes for some swollen sects stores. The bank also specializes in the unconventional newspapers used to sell its shares to the public for the first time.
Instead of renting a group of banks to include the public subscription and selling stocks to the big investors in the road offer, newsmax adopted in the form of less than the cost, and less arduous than a general offer called Al Qaeda A+, a judgment from the Jumpstart Starters law, which President Barack Obama signed in the law in 2012.
The conservative news station raised $ 75 million to sell 7.5 million shares at a price of $ 10 per process, sometimes called “mini -subscription”. Although newsmax $ 72 million lost in 2024, the stock increased by 735 % on the first day of trading and another 180 % on Tuesday to be able to close more than 1,200 % for this week at $ 233.
It may mean an increase in the business of the small company. Illinoitz said that some consulting companies of the investment bank in the middle of the clouds have contacted digital offers in recent days to express their desire to partnership in the structured public offers similar to the NewsMax.
He said about this type of stock offers: “They want us to help them.”
Work with newsmax
The bank’s relationship with newsmax started in August 2023, as mentioned by Elenownitz. Initially, the NEWSMAX digital offer helped raise $ 225 million in capital from accredited investors.
NewsMax was not aware of the A+ List style to take a public company, and the digital offer was able to enumerate its vision. “We felt that he would really create a vision of the company beyond the collection of money, but in reality it creates the vision of the brand,” he said.
Elenowitz led the NewsMax deal alongside Gordon McBian, the founder of the bank and chairman of the veteran board in Lehman Brothers and Wales Vargo; Mike Bosauer, MD also has commercial interests in the defense sector and Blockchain technology.
The NEWSMAX digital offer witnessed the appropriate candidate to submit the A+ list due to the consumer’s attractiveness. While traditional public subscription gives priority to big institutional investors, an offer allows companies to raise funds from accredited and non-accredited investors, including MOM-AND-POP.
“Instead of buying, as an institution, a million dollars and really anxiety, these are investors who buy $ 500, $ 1,000” of property rights, “which gives the administration time to stop concern about their share price and focus on their business growth.
The past 48 hours have been a rush to Elenowitz. The phones were ringing from the hook, and he and his team rejoiced because of a festive dinner, and he and his wife leave Paris this week.
He said that the most prominent thing was the trading bell on the New York Stock Exchange on Monday. The Stock Exchange official handed out Elenownitz a paper shortly after 10:51 am, which was written, “The opening of the trade: 244,778 shares at $ 14.”
He said: “This, for me, was a historical moment.”
Red Alexander is a correspondent at Business Insider. It can be accessed via email on Ralexander@busINESINSISIDERESDER.COMOr SMS/Explining applied application on (561) 247-5758.
