MediaAlpha

​​​​​Canaccord Genuity Completes Fourth Transaction with MediaAlpha

​​​​​​​Partners with the Performance Marketing-Focused Tech Platform from Start-up to Successful IPO

Canaccord Genuity is pleased to announce that on October 27, 2020, MediaAlpha announced the pricing of its initial public offering of 9,250,000 shares of its Class A common stock at $19.00 per share. Of those shares, MediaAlpha sold 6,258,502 shares, and an affiliate of White Mountains (NYSE:WTM) sold 2,991,498 shares as the selling stockholder. Insignia Capital Group also sold a portion of its equity interests in the MediaAlpha business in connection with the transaction. The shares began trading on the New York Stock Exchange on October 28, 2020, under the symbol “MAX.” The offering closed on October 30, 2020 subject to customary closing conditions. Additionally, the underwriters elected to exercise their option to purchase an additional 1,387,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Canaccord Genuity acted as a bookrunner on the offering.

Based in Los Angeles, MediaAlpha is a tech-enabled marketing platform that facilitates real-time transactions between advertisers and publishers of online performance media. MediaAlpha has developed distinctive platform solutions for a range of insurance verticals, including auto, home, health, and life, as well as for non-insurance verticals, such as travel, education, personal finance, and home services. The October 2020 initial public offering was the fourth transaction the Canaccord Genuity team, led by Sanjay Chadda, has completed with MediaAlpha. In 2014, Canaccord Genuity advised the company on its strategic investment from White Mountains Insurance Group. In 2017, Canaccord Genuity sold to MediaAlpha its Over 65 Health Insurance and Life Insurance Customer Acquisition Business, which included Healthplans.com In 2019, Canaccord Genuity again advised MediaAlpha on its investment from Insignia Capital and White Mountains.

This series of successful transactions for MediaAlpha underscore Canaccord Genuity’s commitment to serving the financing and advisory needs of dynamic growth companies. Our Technology, Media, Marketing, and Information Services team is available to connect and discuss further at your convenience.