Arena Group expands credit line to $50M, converts $15M debt to equity, terminates Bridge Media deal, narrows Q2 loss

Arena Group Holdings, Inc.

Simplify loan line increased from $25M to $50M; maturity extended to December 1, 2026.
$15M of outstanding debt exchanged for 17,797,817 shares at ~$0.84 per share (60-day VWAP).
Business Combination Agreement with Bridge Media Networks terminated by mutual agreement; no penalties.
Q2 revenue $27.2M (-20% YoY); net loss narrowed to $8.2M ($0.28 loss/share) from $19.5M.
Operating expenses down 32% YoY; company expects over $40M annual cost savings and further profitability improvements in H2.

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