Deadpool star's internet advertising company MNTN Inc. (MNTN.US) files for listing on the New York Stock Exchange

Internet TV advertising platform MNTN Inc. (MNTN.US) has applied for an initial public offering (IPO), with plans to list on the New York Stock Exchange under the ticker symbol MNTN. Hollywood star Ryan Reynolds serves as the company's Chief Creative Officer, after MNTN acquired Reynolds' creative company Maximum Effort in 2021. A filing submitted to the U.S. Securities and Exchange Commission (SEC) on Friday shows that the company, which provides advertising software to help brands promote themselves through connected TV, will issue new shares in the IPO while also selling shares from existing shareholders. The proposed terms of the listing will be disclosed in a later filing, at which point underwriters will begin marketing the shares. The offering is being led by Morgan Stanley, Citi, and Evercore. The filing shows revenue growth and narrowing losses. The company's revenue in 2024 is expected to be around $226 million, with a net loss of $32.9 million, compared to revenue of $176 million and a net loss of $53.3 million in the same period last year. According to its website, the MNTN performance TV platform offers a suite of targeting, measurement, and automated optimization technologies. Data shows that 58 companies have raised $9.8 billion this year, with MNTN joining a strong start to U.S. IPOs, albeit more moderate than expected by bankers. In 2021, MNTN raised $119 million in a Series D funding round led by funds and accounts managed by BlackRock, Inc. and Fidelity Management & Research Co., who collectively invested approximately $110 million.