Newsmax Raised $135 Million in Pre-IPO Plan, Offer to Close Soon

Mark Elenowitz, managing director for Digital Offering LLC, told Newsmax on Friday that “Newsmax is doing something that’s never been done before.”

Newsmax has already filed with the Securities and Exchange Commission and is seeking a public offering with an expected listing on the New York Stock Exchange under the symbol “NMAX.” The company has also engaged in a private offering of preferred shares, as well as the anticipated public offering, with investment bank Digital Offering LLC.

“We’ve had really good success. We’re at $125 million. We’re now at $135 million subscribed from a $150 million offering, so we only have about $15 million. And we’re coming up to end of the offering period,” Elenowitz said during an appearance on “Finnerty.”