Arena Group raises ~$11.3M in registered direct offering of 2.96M shares at $3.88/share

Arena Group Holdings, Inc.

Sold 2,963,918 shares at $3.88 per share in a registered direct offering.
Net proceeds expected to be approximately $11.3 million after expenses.
Proceeds to be used for working capital and general corporate purposes.
No underwriter or placement agent; closing expected on or around April 3, 2023.
Offering made under existing effective shelf registration statement (File No. 333-268487).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Arena Group Holdings, Inc. entered into Common Stock Purchase Agreement with certain purchasers valued at $3.88 per share (effective 2023-03-31).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers
Value: $3.88 per share
Effective: 2023-03-31

Exact text from the filing

On March 31, 2023, The Arena Group Holdings, Inc. (the “Company”) entered into common stock purchase agreements (collectively, the “Common Stock Purchase Agreement”) with certain purchasers, pursuant to which the Company agreed to issue and sell in a registered direct offering (the “Offering”) an aggregate of 2,963,918 shares (the “Shares”) of the Company’s common stock, $0.01 par value per share (“Common Stock”).

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242 material agreements filed in the last 30 days. Browse all material agreements →

Arena Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-009930

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