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The Maven, Inc., now operating as The Arena Group, announced plans to uplist its stock to the NYSE American under the symbol 'AREN' and implement a 1-for-22 reverse stock split. The company's name change is aimed at aligning its brand with its growth strategy. The uplisting is expected to take effect on February 9, 2022, with a new CUSIP of 040044 109. This move is part of The Arena Group's strategy to enhance its market presence and operational capabilities, providing robust digital content across various sectors.
The Arena Group, formerly known as theMaven, Inc. (OTCQX: MVEN), plans to offer shares of its common stock in an underwritten public offering. The offering will be managed by B. Riley Securities and Lake Street Capital Markets. A 30-day option for underwriters to purchase an additional 15% of shares is also anticipated. Concurrently, the company expects to uplist to NYSE American under the new symbol 'AREN' and initiate a 1-for-22 reverse stock split. These changes are expected on February 4, 2022, enhancing the company's market presence and share value.
The Arena Group (MVEN) announced its acquisition of AMG/Parade, a multimedia content company with a significant lifestyle and sports reach. The deal, valued at $16 million, aims to enhance Arena's digital and print offerings, with AMG/Parade reaching over 257 million consumers monthly. The acquisition is expected to close in Q1 2022 pending due diligence. The Arena Group projects record revenues exceeding $180 million for 2021, marking a 41% growth from the previous year.
theMaven, Inc. (OTCQX: MVEN) is filing a registration statement on Form S-1 with the SEC for a proposed common stock offering. The company intends to uplist from OTCQX to NYSE American under the symbol "AREN." A reverse stock split will accompany the uplisting, along with a name change to The Arena Group Holdings, Inc. Although the authority for the reverse stock split was granted in November 2020, the company warns that uplisting approval is not guaranteed, and market conditions will influence the offering's success.
The Arena Group (OTCQX: MVEN) has reported significant growth in its sports media vertical, with Sports Illustrated Media Group ranking #5 in the sports category, up from #11 in 2020. This marks a year-over-year audience growth of nearly 237%. The Arena Group has also entered the Top 50 properties in the U.S., gaining over 36.1 million unique visitors. The company attributed this success to its focus on premium content and impactful journalism. In November, the Arena Group reached #49 on ComScore's MultiPlatform Report with 82.1 million unique visitors.
The Arena Group, formerly known as Maven (OTCQB: MVEN), has announced participation in the Sidoti Virtual Investor Conference on December 8-9, 2021. CEO Ross Levinsohn will present on December 9 at 1 p.m. ET, with the presentation available for live streaming on the company’s website. Management will also hold one-on-one meetings on both days. Interested investors can register for the conference and schedule meetings via the provided links.
The Arena Group (OTCQX: MVEN) reports a significant 86% increase in third-quarter revenue for 2021, totaling $59.6 million, compared to $32.1 million in the previous year. Advertising revenue surged 130% to $21.7 million, driven by improved monetization of their technology platform. Net loss improved to $24.7 million, or $(0.10) per share, from $21.4 million in 2020, despite a $7.3 million charge related to exiting a lease. The company's focus on diversifying revenue streams helped achieve a 50% revenue increase year-to-date, totaling $127.9 million.
The Arena Group, formerly Maven (OTCQB: MVEN), will release its third quarter financial results for the period ended September 30, 2021, on November 15, 2021, post-market close. CEO Ross Levinsohn and CFO Doug Smith will host a conference call at 5 p.m. ET on the same day to discuss the results and provide updates. The call can be accessed via phone or webcast on the company's Investor Relations site. A replay of the call will be available for 90 days after the event.
Sports Illustrated has launched its new series, America’s Best Sports Videos, on Snapchat, hosted by Ashley Nicole Moss. The series will air every Friday, starting November 5th. It aims to connect with Gen Z audiences, leveraging more than 85% of this demographic's engagement with Snap Originals. SI's publisher, The Arena Group, highlights this series as part of its digital growth strategy, following significant milestones including a podcast deal with iHeart Radio and acquiring The Spun. SI’s digital presence has surged over 250%, amassing almost 53M unique visitors as of September 2021.
Joy Russo has been appointed as the Executive Editor of Content Strategy at Sports Illustrated, joining from ESPN. With over 21 years of editorial experience, Russo will lead digital operations and enhance women's sports coverage. Her hiring coincides with the addition of Alan Springer as VP of Video and Matt Wong as Managing Editor of NBA. Sports Illustrated reached 52.9 million unique visitors in September, a 42% growth in female audience this year. The Arena Group, parent company of SI, continues to expand its sports media vertical.
