HAMILTON, Bermuda, May 10, 2024
/PRNewswire/ -- White Mountains Insurance Group, Ltd.
(NYSE: WTM) announced today that MediaAlpha, Inc.
("MediaAlpha") closed its previously announced underwritten
secondary public offering of 7,590,000 shares (including 990,000
shares sold pursuant to the underwriters' option to purchase
additional shares) of its Class A common stock by certain selling
stockholders. The shares of Class A common stock were sold to the
public at a price of $19.00 per
share. MediaAlpha did not sell any shares of Class A common stock
in the offering.
White Mountains sold 5,000,200 shares in the offering and
received net cash proceeds of approximately $90 million from the offering. Following
the completion of the offering, White Mountains owns 17,856,614
shares of MediaAlpha Class A common stock, representing a 25%
fully-diluted ownership interest.
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.
About White Mountains
White Mountains is a Bermuda-domiciled financial services holding
company traded on the New York Stock Exchange under the symbol WTM
and on the Bermuda Stock Exchange under the symbol WTM.BH.
CONTACT: Rob Seelig
(603)
640-2212
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SOURCE White Mountains Insurance Group, Ltd.