Arena Group acquires Men's Journal and other active lifestyle brands for $28.5M

Arena Group Holdings, Inc.

Acquisition price of $28.5M: $25M cash (incl. $1M paid Nov, $1M escrow) and ~$3.5M deferred over 27 months.
Acquires digital assets of Men's Journal, Men's Fitness, Surfer, Powder, Bike, SKATEboarding, Snowboarder, NewSchoolers.
To repay ~$5.9M existing notes via issuance of up to $36M senior secured bridge notes.
Expected closing December 15, 2022, subject to customary conditions.
Nine-month 2022: digital ad revenue up 90%, total revenue up 41% to $180M, gross profit up ~$20M YoY.

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Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Arena Group Holdings, Inc. entered into Purchase Agreement with A360 Media, LLC and Weider Publications, LLC valued at aggregate purchase price of $25.0 million (effective 2022-12-07).

Action: entry
Agreement: asset purchase
Counterparty: A360 Media, LLC and Weider Publications, LLC
Value: aggregate purchase price of $25.0 million
Effective: 2022-12-07

Exact text from the filing

entered into an asset purchase agreement with A360 Media, LLC, a Delaware limited liability company (“A360”), and Weider Publications, LLC, a Delaware limited liability company and a wholly-owned subsidiary of A360 (together with A360, the “Seller Parties,” and such agreement, the “Purchase Agreement”).

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Arena Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-035313

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