(Note: This is NOT an IPO. The Arena Group Holdings, Inc., formerly known as theMaven, Inc., announced on Friday, Feb. 11, 2022, the pricing (on Thursday night, Feb. 10) of its public offering of 3.64 million (3,636,364) shares at a price of $8.25 per share. The price was below the stock’s Feb. 10, 2022, close at $9.20 on the NYSE-American exchange. The public offering raised $30 million. The company priced 1.2 million more shares than were listed in the prospectus. The pricing of this public offering followed the company’s uplisting of its common stock to the NYSE-American exchange on Feb. 9, 2022, when its stock began trading under the symbol AREN and opened at $9.50, up from its OTCQX close at $9.24 on Feb. 8, 2022. The company completed a Reverse Stock Split (an assumed 1:22 (1-for-22) ratio that was effective at 8 p.m. EST on Feb. 8, 2022. The company changed its name to The Arena Group Holdings, Inc., in conjunction with its NYSE-American uplisting. **IPOScoop erroneously reported that the AREN public offering was priced on Feb. 9; we regret the error.)

We are a data-driven media company that focuses on building deep content verticals powered by a best-in-class digital media platform (the “Platform”), empowering premium publishers who impact, inform, educate and entertain. Our strategy is to focus on key verticals where audiences are passionate about a topic category (e.g., sports, finance) and where we can leverage the strength of our core brands to grow our audience and monetization both within our core brands as well as our media publishers (each, a “Publisher Partner”). Our focus is on leveraging the Platform and iconic brands in targeted verticals to maximize the audience, improve engagement and optimize monetization of digital publishing assets for the benefit of our users, our advertiser clients, and our owned and operated properties as well as properties we run on behalf of independent Publisher Partners.

We operate the media businesses for Sports Illustrated, and we own and operate TheStreet, Inc. and College Spun Media Inc., which are our “Owned and Operated Businesses.” We power more than 200 independent Publisher Partners. Each Publisher Partner joins the Platform by invitation-only and is drawn from premium media brands and independent publishing businesses with the objective of augmenting our position in key verticals and optimizing the performance of the Publisher Partner. 

**Note on financial figures from the prospectus: Revenue is an estimated unaudited figure for the year ended Dec. 31, 2021. The company has incurred losses since its inception. Its accumulated deficit as of Sept. 30, 2021, was approximately $233.1 million. 

Note: “We intend to use the net proceeds from this offering for the initial cash portion of the purchase price of the acquisition of Athlon and our working capital and general corporate purposes.”