Company is seeking to raise up to US$75-million in the public offering
Conservative U.S. cable news channel Newsmax said on Thursday it had confidentially filed for an initial public offering in the United States .
The media network, which reaches more than 40 million Americans through its television, streaming, online and print platforms, is seeking to raise up to $75 million in the public offering, which is expected to take place later this year or in early 2025. The company has also launched a private placement as it looks to raise capital before the proposed IPO.
The private placement, which could potentially raise up to $225 million, is open to investors for a limited time.
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