Cable news channel Newsmax's shares triple in NYSE debut after $75 million mini IPO
Conservative cable news channel Newsmax's NMAX.N shares jump as much as 209.1% to $30.91 in NYSE debut
Stock opened at $14 vs offer price of $10, trading halted multiple times for volatility
Florida-based NMAX sold 7.5 million shares to raise $75 million in its offering under Regulation A+, or a "mini IPO", which is a scaled down version of the traditional IPO
Company has 128.4 million outstanding shares, per SEC filing, giving it $1.28 billion valuation at IPO price
NMAX is the latest conservative-focused company to have gone public in New York in the past few years, joining the likes of Truth Social-parent Trump Media & Technology DJT.O and video-sharing platform Rumble RUM.O
Founded in 1998 as a digital media brand by journalist Christopher Ruddy, NMAX entered the cable news market in 2014
In February, NMAX raised $225 million in private placement
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