How the world consumes its news is undergoing radical change and the next step in that evolution took place this week when a unique media outlet launched its Regulation A+ IPO.
NewsBeat Social is a video-first news agency which produces one-minute news reports and broadcasts them across social media.
Now that NewsBeat Social has been qualified by the SEC, they can accept common stock investments at $5.00 per share. They began taking investor reservations this March and have attracted more than 20,000 expressions of interest. Because of that level, NewsBeat Social expects to be one of the first crowdfunded IPOs to list on Nasdaq, subject to listing requirements. The company has applied for Nasdaq listing under the symbol NEWZ.
The IPO will continue for a few weeks, with THE NASDAQ listing expected at its conclusion and when minimum funds for listing are received.
Changing public appetites in news consumption and the advent of Regulation A+ created optimal conditions for NewsBeat Social, President Geoff Campbell said.
“Our audience members recognize the value of our independent video news product, and they are also excited about our IPO. The Reg A+ method for raising capital, which prioritizes openness and transparency, is in line with NewsBeat Social’s core values and allows our audience to participate in our growth.”
WR Hambrecht + Co is underwriting the IPO. Their CEO is not surprised at the positive reaction to NewsBeat Social.
“We’ve been very pleased by the strong and continued interest from potential investors for the NewsBeat Social Reg A+ IPO,” John Huller said. “The response is the product of a well-planned process and a clear funding strategy.”
The maximum proposed offering size is $50 million and there is a 100 share minimum. More information on the IPO can be found at ipo.newsbeatsocial.com.
Bankless Times news consultant John White is a management consultant for NewsBeat Social.