secwatch.observer — SEC 8-K summary
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Issuer:     Arena Group Holdings, Inc. (AREN)
CIK:        0000894871
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0001493152-22-036014
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arena Group acquires Men's Journal digital ops for $23M; issues $36M bridge notes to fund deal
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- Acquired Men’s Journal and Adventure Sports Network digital media from A360 Media for $23M cash plus $1M escrow and $3.5M deferred over 27 months.
- Issued $36M senior secured bridge notes at 12% interest, maturing Dec 2023; net proceeds $34.8M used for acquisition and to repay $5.9M existing notes.
- Interest rate on bridge notes increases by 1.5% per quarter starting Mar 2023.
- Amended SLR credit line to $40M at prime+4%, maturity extended to Dec 2024, conditional on refinancing bridge notes by Aug 2023.
- Bridge notes are secured by same collateral as outstanding secured notes and guaranteed by the Company's subsidiaries.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894871/000149315222036014/0001493152-22-036014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894871/000149315222036014/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-036014

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