NEW YORK–(BUSINESS WIRE)–The Area Group Holdings, Inc., previously generally known as theMaven, Inc. (NYSE American: AREN) (the “Firm”), at present introduced that it has accomplished the sale of an extra 545,239 shares of its widespread inventory at $8.25 per share pursuant to the partial train of the underwriter’s choice to buy as much as an extra 545,454 shares of the Firm’s widespread inventory in reference to the Firm’s beforehand closed $30 million public providing. The gross proceeds to the Firm from the sale of the extra shares are anticipated to be roughly $4.5 million, earlier than deducting underwriting reductions and commissions and different estimated providing bills.
B. Riley Securities, Inc. acted as the only real book-running supervisor and Lake Road Capital Markets, LLC acted as lead supervisor and certified impartial underwriter for the providing.
The providing was made by the Firm pursuant to a registration assertion on Kind S-1 (File No. 333-262111), as amended by Pre-Efficient Amendments Nos. 1, 2 and three, beforehand filed with the U.S. Securities and Alternate Fee (the “SEC”) and subsequently declared efficient by the SEC on February 10, 2022, and is obtainable on the SEC’s web site situated at http://www.sec.gov. Copies of the ultimate prospectus regarding the providing had been filed with the SEC and could also be obtained from B. Riley Securities, Inc., Consideration: Prospectus Division, 1300 17th St. North, Suite 1300, Arlington, VA 22209, by phone at (703) 312-9580 or by e-mail at [email protected] Buyers may acquire these paperwork without charge by visiting the SEC’s web site at http://www.sec.gov. Earlier than investing on this providing, events ought to learn of their entirety the prospectus and the opposite paperwork that the Firm has filed with the SEC which can be integrated by reference in such prospectus, which give extra details about the Firm and the providing.
This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction wherein such provide, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About The Area Group
The Area Group creates sturdy digital locations that delight customers with highly effective journalism and information in regards to the issues they love – their favourite sports activities groups, recommendation on investing, the within scoop on private finance, and the newest on life-style necessities. With highly effective expertise, editorial experience, knowledge administration, and advertising and marketing savvy, the transformative firm permits manufacturers like Sports activities Illustrated and TheStreet to ship extremely related content material and experiences that customers love. To study extra, go to www.thearenagroup.internet.
Cautionary Observe Relating to Ahead-Trying Statements
This press launch might include forward-looking statements inside the that means of the secure harbor provisions of the U.S. Personal Securities Litigation Reform Act of 1995. Ahead-looking statements relate to future occasions or future efficiency and embody, with out limitation, statements in regards to the Firm’s enterprise technique, future revenues, market development, capital necessities, product introductions, growth plans and the adequacy of its funding, and the consummation of the deliberate acquisition of Athlon Holdings, Inc. Different statements contained on this press launch that aren’t historic information are forward-looking statements. The Firm has tried, wherever potential, to establish forward-looking statements by terminology corresponding to “might,” “will,” “might,” “ought to,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and different comparable terminology.
The Firm cautions you that any forward-looking statements introduced on this press launch are based mostly on the beliefs of, assumptions made by, and knowledge at the moment accessible to us. Such statements are based mostly on assumptions, and the precise consequence can be affected by recognized and unknown dangers, developments, uncertainties, and elements which can be past the Firm’s management or capability to foretell. Though the Firm believes that its assumptions are cheap, it isn’t guaranteeing of future efficiency, and a few will inevitably show to be incorrect. Consequently, the Firm’s precise future outcomes could be anticipated to vary from its expectations, and people variations could also be materials. Accordingly, you need to use warning in counting on forward-looking statements, that are based mostly solely on recognized outcomes and developments on the time they’re made, to anticipate future outcomes or developments. Sure dangers are mentioned sometimes within the Firm’s filings with the SEC, together with however not restricted to, its Annual Report on Kind 10-Okay for the yr ended December 31, 2020, and any subsequently filed quarterly experiences on Kind 10-Q.
You’re cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date of this press launch. Besides as required by regulation, the Firm will not be obligated to publicly launch any revisions to those forward-looking statements to replicate the occasions or circumstances after the date hereof or to replicate the incidence of unanticipated occasions.
