<SEC-DOCUMENT>0001062993-23-014208.txt : 20230630
<SEC-HEADER>0001062993-23-014208.hdr.sgml : 20230630
<ACCEPTANCE-DATETIME>20230630081348
ACCESSION NUMBER:		0001062993-23-014208
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230630
FILED AS OF DATE:		20230630
DATE AS OF CHANGE:		20230630

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WHITE MOUNTAINS INSURANCE GROUP LTD
		CENTRAL INDEX KEY:			0000776867
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39671
		FILM NUMBER:		231059511

	BUSINESS ADDRESS:	
		STREET 1:		23 SOUTH MAIN STREET
		STREET 2:		SUITE 3B
		CITY:			HANOVER
		STATE:			NH
		ZIP:			03755
		BUSINESS PHONE:		603 640 2200

	MAIL ADDRESS:	
		STREET 1:		23 SOUTH MAIN STREET
		STREET 2:		SUITE 3B
		CITY:			HANOVER
		STATE:			NH
		ZIP:			03755

	FORMER NAME:	
		FORMER CONFORMED NAME:	WHITE MOUNTAINS INSURANCE GROUP INC
		DATE OF NAME CHANGE:	19990603

	FORMER NAME:	
		FORMER CONFORMED NAME:	FUND AMERICAN ENTERPRISES HOLDINGS INC
		DATE OF NAME CHANGE:	19920703

	FORMER NAME:	
		FORMER CONFORMED NAME:	FUND AMERICAN COMPANIES INC
		DATE OF NAME CHANGE:	19920701

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WM Hinson (Bermuda) Ltd.
		CENTRAL INDEX KEY:			0001979065
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39671
		FILM NUMBER:		231059510

	BUSINESS ADDRESS:	
		STREET 1:		26 REID STREET
		STREET 2:		SUITE 601
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11
		BUSINESS PHONE:		441-278-3160

	MAIL ADDRESS:	
		STREET 1:		26 REID STREET
		STREET 2:		SUITE 601
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MediaAlpha, Inc.
		CENTRAL INDEX KEY:			0001818383
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				851854133
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		700 SOUTH FLOWER STREET
		STREET 2:		SUITE 640
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90017
		BUSINESS PHONE:		619-393-9368

	MAIL ADDRESS:	
		STREET 1:		700 SOUTH FLOWER STREET
		STREET 2:		SUITE 640
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90017
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0407</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-06-30</periodOfReport>

    <issuer>
        <issuerCik>0001818383</issuerCik>
        <issuerName>MediaAlpha, Inc.</issuerName>
        <issuerTradingSymbol>MAX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000776867</rptOwnerCik>
            <rptOwnerName>WHITE MOUNTAINS INSURANCE GROUP LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>23 SOUTH MAIN STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 3B</rptOwnerStreet2>
            <rptOwnerCity>HANOVER</rptOwnerCity>
            <rptOwnerState>NH</rptOwnerState>
            <rptOwnerZipCode>03755</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001979065</rptOwnerCik>
            <rptOwnerName>WM Hinson (Bermuda) Ltd.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>26 REID STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 601</rptOwnerStreet2>
            <rptOwnerCity>HAMILTON</rptOwnerCity>
            <rptOwnerState>D0</rptOwnerState>
            <rptOwnerZipCode>HM 11</rptOwnerZipCode>
            <rptOwnerStateDescription>BERMUDA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5916816</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>22856814</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On June 30, 2023, White Mountains Insurance Group, Ltd. (&quot;WMIG&quot;), through its wholly-owned, direct subsidiary, WM Hinson (Bermuda) Ltd. (&quot;WM Hinson&quot;), accepted for purchase shares of the class A common stock of MediaAlpha, Inc. (&quot;Shares&quot;) through a fixed-price tender offer.</footnote>
        <footnote id="F2">WMIG owns 900,000 Shares directly and owns 21,956,814 Shares indirectly.  Of the Shares owned indirectly by WMIG, 5,916,816 Shares are owned directly by WMIG's direct subsidiary, WM Hinson, and 16,039,998 Shares are held directly by White Mountains Investments (Luxembourg) S.a' r.l., a direct subsidiary of WM Birkdale, Ltd., a direct subsidiary of WMIG.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>White Mountains Insurance Group, Ltd., by Robert L. Seelig, its EVP and General Counsel</signatureName>
        <signatureDate>2023-06-30</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>WM Hinson (Bermuda) Ltd., by John G. Sinkus, its Director</signatureName>
        <signatureDate>2023-06-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
