Ryan Reynolds-Backed Ad Tech Firm MNTN Prices $187M IPO At Top End Of Estimated Range

About 8.4 million shares are being offered by the company, with the remaining 3.30 million shares by selling shareholders.
Ryan Reynolds during the OMR Festival 2025 on May 06, 2025 in Hamburg, Germany.
Ryan Reynolds during the OMR Festival 2025 on May 06, 2025 in Hamburg, Germany. (Photo by Tristar Media/WireImage)
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Shanthi M·Stocktwits
Updated Jul 02, 2025   |   8:31 PM GMT-04
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Connected TV performance marketing platform MNTN, Inc. (MNTN) priced its initial public offering (IPO) at the upper end of the previously estimated range, even as the broader market remains in flux amid uncertainties.

According to Bloomberg, the company temporarily put on hold its IPO ambitions in early April after President Donald Trump’s tariffs stirred up market turmoil. However, with market conditions improving since then, the company has decided to take the plunge.

Austin, Texas-based MNTN, which counts Hollywood actor Ryan Reynolds among its C-suite, priced its offering of 11.70 million Class A common stock at $16 apiece, versus the estimated $14-$16 range. 

Based on the offer price, the gross proceeds will likely be $187.2 million.

About 8.4 million shares are being offered by the company, with the remaining 3.30 million shares being sold by selling shareholders. 

MNTN said it has granted the underwriters a 30-day option to purchase up to an additional 1.76 million shares at the IPO price, less underwriting discounts and commissions. 

The offering is expected to close on Friday, while the stock will begin trading on the NYSE on Thursday under the ticker symbol ‘MNTN.’

The IPO price values the company at $1.24 billion, based on the 77.32 million total outstanding Class A and Class B shares.

BlackRock, which holds a 5.6% stake in MNTN, has expressed interest in picking up an additional $30 million shares in the IPO. 

The filing also showed that CEO Mark Douglas’ stake represented 26% of the voting power before the IPO, which will be diluted to 26.3% after the offering. 

Reynolds serves as the company’s chief creative officer. His firm, Maximum Efforts, was bought by MNTN in 2021 and sold back to an affiliate of its original owner in the wake of the IPO. 

The MNTN stock stream set up on Stocktwits ahead of the IPO showed retail investors were ‘extremely bullish’ (100/100), with the message volume at ‘extremely high’ levels.

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MNTN sentiment and message volume as of 2:39 a.m. ET, May 22 | source: Stocktwits

A watcher said they expected the stock to fly after the IPO.

"Anything Deadpool-related turns to gold," said one user, referring to the iconic Marvel Comics superhero portrayed by Reynolds.

The IPO market in the U.S. saw a resurgence this year, with CoreWeave (CRWV), Newsmax (NMAX), and eToro (ETOR) among the notable companies that have debuted so far.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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Editor’s Note: A previous version of this story incorrectly stated that MNTN is based in New York. The correct location is Austin, Texas. The error has been corrected.

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