Newsmax's (NYSE:NMAX - Get Free Report) quiet period will expire on Monday, May 12th. Newsmax had issued 7,500,000 shares in its IPO on March 31st. The total size of the offering was $75,000,000 based on an initial share price of $10.00. During the company's quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Newsmax Trading Down 1.8 %
NMAX opened at $22.94 on Monday. Newsmax has a twelve month low of $14.00 and a twelve month high of $265.00.
Institutional Trading of Newsmax
Several hedge funds have recently modified their holdings of NMAX. Golden State Wealth Management LLC bought a new stake in Newsmax during the 1st quarter worth approximately $39,000. CWM LLC acquired a new position in Newsmax in the first quarter worth $47,000. Allworth Financial LP bought a new stake in shares of Newsmax during the first quarter worth $89,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Newsmax in the first quarter valued at $551,000.
About Newsmax
(
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Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).
Further Reading
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