07:29 AM EDT, 05/08/2024 (MT Newswires) -- White Mountains Insurance Group ( WTM ) said Tuesday that MediaAlpha ( MAX ) , in which it holds a minority stake, priced a secondary public offering of 6.6 million shares of its common stock by certain stockholders at $19 per share.

MediaAlpha ( MAX ) is not offering any shares in the offering. White Mountains is offering about 4.35 million shares and expects to receive net cash proceeds of about $79 million from the sale.

Following the completion of the offering, expected to close Friday, White Mountains will continue to retain about 18.5 million MediaAlpha ( MAX ) shares, representing a 26% ownership stake.

The offering may include up to 990,000 shares subject to the underwriters' option to purchase additional shares.