MediaAlpha $370.3 million secondary offering
We advised the underwriters on the SEC-registered stock offering

Davis Polk advised the joint book-running managers and representatives of the underwriters in connection with the $370.3 million secondary offering of 8,050,000 shares of Class A common stock of MediaAlpha, Inc. by selling stockholders White Mountains Investments (Luxembourg) S.à r.l., Insignia QL Holdings, LLC, Insignia A QL Holdings, LLC, and specified selling stockholders, which included 1,050,000 shares from the full exercise of the underwriters’ option to purchase additional shares from the selling stockholders. The common stock is listed on the NYSE under the symbol “MAX.”

MediaAlpha, headquartered in Los Angeles, California, helps insurance carriers and distributors target and acquire customers more efficiently and at greater scale through technology and data science. MediaAlpha’s technology platform brings leading insurance carriers and high-intent consumers together through a real-time, transparent and results-driven ecosystem.

The Davis Polk capital markets team included partners Byron B. Rooney and Roshni Banker Cariello and associate Lia-Michelle Keane. The tax team included counsel Ethan R. Goldman and associate Dylan J. Steiner. Associate Brette L. Trost provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk deal team are all based in the New York office.