A Sheppard Mullin Corporate team represented Newsmax Inc. (NYSE: NMAX), a leading American media company, in negotiating its standby equity purchase agreement of up to $1.2 billion with YA II PN, Ltd. (Yorkville).
As part of the agreement, Newsmax has the option, but not the obligation, to require Yorkville to purchase up to $1.2 billion of ordinary shares in Newsmax at any time during the term of the 24-month agreement, subject to certain conditions and limitations. This financing provides Newsmax with access to capital to continue to respond to new growth opportunities as the media landscape evolves.
This new financing agreement follows just days after Sheppard Mullin successfully represented Newsmax in its highly anticipated IPO and a total capital raise of $300 million.
The Sheppard Mullin deal team was led by partners Ariel Yehezkel and Alex Schwartz and included associates Shane Killeen, Michael Blane and John Woodrum.
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