{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-043382","form_type":"8-K","ticker":"AREN","cik":"0000894871","company_name":"Arena Group Holdings, Inc.","filed_at":"2026-09-18T21:04:50+00:00","discovered_at":"2026-09-18T21:06:00.640108+00:00","generated_at":"2026-09-18T21:06:06.835295+00:00","sec_items":["8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Paradium.AI enters 10-yr RTB platform deal; RTB to buy 49.5% stake for $89.6M","bullets":["RTB will issue $11.5M in unregistered stock for Paradium tech license; revenue-sharing on partner content.","RTB acquires ~49.5% of Paradium from Simplify for $89.56M ($3.80/sh) via $10M deposit, $6M stock, $73.6M cash.","Closing expected Q4 2026, subject to RTB capital raise, due diligence; Simplify keeps ~23% of Paradium.","Paradium's brands migrate to RTB's AI platform; RTB covers operating costs and pays revenue share for 10-year term."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-043382","json":"https://secwatch.observer/filing/0001493152-26-043382.json","markdown":"https://secwatch.observer/filing/0001493152-26-043382.md","text":"https://secwatch.observer/filing/0001493152-26-043382.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/894871/000149315226043382/0001493152-26-043382-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/894871/000149315226043382/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-09-18T21:06:06.835295+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}