MediaAlpha Announces Closing of Secondary Offering by White Mountains Insurance Group and Insignia Capital Group

LOS ANGELES, May 10, 2024 (GLOBE NEWSWIRE) -- MediaAlpha, Inc. (“MediaAlpha”) (NYSE: MAX) today announced the closing of the previously announced underwritten secondary public offering of 7,590,000 shares of its Class A common stock by certain selling stockholders affiliated with White Mountains Insurance Group and Insignia Capital Group (the “Selling Stockholders”) at an offering price of $19.00 per share (before discounts and commissions), which included 990,000 shares of Class A common stock sold pursuant to the option granted by the Selling Stockholders to the underwriters. MediaAlpha did not sell any shares of Class A common stock in and did not receive any proceeds from the offering.

J.P. Morgan and Goldman Sachs & Co. LLC are acting as joint bookrunners and representatives for the offering. BofA Securities, Canaccord Genuity, William Blair, BMO Capital Markets and Keefe, Bruyette & Woods, A Stifel Company are acting as bookrunners.

The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. A final prospectus supplement related to the offering has also been filed with the SEC. Before you invest, you should read the prospectus in that registration statement, the final prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at . Copies of the final prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 1-866-803-9204 or by email at and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, facsimile: 212-902-9316 or by email at .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to future events. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would,” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are based on current expectations, estimates, beliefs and assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of the future and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including those more fully described in MediaAlpha’s filings with the SEC, including those set forth in the Risk Factors section of the registration statement for the offering and the final prospectus included therein, as filed with the SEC. MediaAlpha disclaims any obligation to update any forward-looking statements to reflect events or circumstances that occur after the date of this press release, except as required by law.

Contacts:

Investors

Denise Garcia

Hayflower Partners