10:45 AM EDT, 09/05/2024 (MT Newswires) -- Newsmax said Thursday it has confidentially filed with the US Securities and Exchange Commission for an initial public offering to raise up to $75 million.

The cable news channel operator expects to launch the IPO later this year or in early 2025.

Newsmax expects to list on the New York Stock Exchange under the NMAX ticker symbol.

The company also said it is seeking to raise $150 million, or up to $225 million, via a private placement offering of series B 7% convertible preferred stock.