(Reuters) -MNTN, an adtech platform that has Ryan Reynolds as its chief creative officer, said on Wednesday it was aiming for a valuation of up to $1.24 billion in its U.S. initial public offering. The company, along with some of its current investors, plans to raise up to $187.2 million in the IPO, selling 11.7 […]
Science
Adtech platform MNTN targets up to $1.24 billion valuation in US IPO
Audio By Carbonatix
(Reuters) -MNTN, an adtech platform that has Ryan Reynolds as its chief creative officer, said on Wednesday it was aiming for a valuation of up to $1.24 billion in its U.S. initial public offering.
The company, along with some of its current investors, plans to raise up to $187.2 million in the IPO, selling 11.7 million shares priced between $14 and $16 each.
MNTN enables brands to advertise on connected TVs – devices with access to the internet that can stream online videos. It was backed by BlackRock and Fidelity Management and Research in a 2022 funding round.
Morgan Stanley, Citigroup and Evercore are among the underwriters for the IPO.
(Reporting by Niket Nishant in Bengaluru; Editing by Anil D’Silva)