BuzzFeed ups ATM to $150M from ~$9M; reaffirms Q2 rev $44-49M, Adj EBITDA -$4M-$1M

BuzzFeed, Inc.

ATM program increased to $150M aggregate offering price from prior limit of ~$9M (based on $2.71 close on July 3, 2024).
Previously sold 517,385 shares under ATM for aggregate gross proceeds of ~$1.1M; new prospectus supplement filed.
Reconfirms Q2 2024 revenue guidance of $44-49M (down ~21-30% YoY) and Adjusted EBITDA range of $(4)M to $1M.
Company notes potential dilutive effect of increased ATM and need for additional capital; forward-looking risks highlighted.

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