Newsmax CEO Christopher Ruddy announced Monday that the company raised $153 million in a pre-IPO offering, exceeding the goal of $150 million.

With thousands of investors still in process of buying preferred shares, Newsmax has decided to extend the offering to $175 million – an increase of $25 million above target raise.

Newsmax expects to close on the remaining $22 million remaining very soon, meaning those who started the process online or through printed documents should take the time to complete them.

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