NEW YORK--(BUSINESS WIRE)--theMaven, Inc. (OTCQX: MVEN), currently operating under the brand name The Arena Group (the "Company"), today announced that it anticipates uplisting its common stock to the NYSE American under the symbol "AREN" and anticipates effecting a name change and a 1-for-22 reverse stock split (the "Reverse Stock Split") of its common stock, par value $0.01 per share. The new corporate name for the Company will be The Arena Group Holdings, Inc. and the Company will do business as The Arena Group. The first date of trading on the NYSE American is expected to be February 9, 2022. The Company's new CUSIP upon completion of the name change, the Reverse Stock Split, and uplist to the NYSE American will be 040044 109.
About The Arena Group
theMaven, Inc., operating under the brand name The Arena Group, creates robust digital destinations that delight consumers with powerful journalism, news about the things they love - their favorite sports teams, advice on investing, the inside scoop on personal finance, and the latest on lifestyle essentials. With powerful technology, editorial expertise, data management and marketing savvy, the transformative company enables brands like Sports Illustrated and TheStreet to deliver highly relevant content and experiences that consumers love. To learn more, visit www.thearenagroup.net.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and include, without limitation, statements concerning the Company's business strategy, future revenues, market growth, capital requirements, product introductions, expansion plans and the adequacy of its funding, the consummation of the proposed offering, the plan to uplist to the NYSE American, and the consummation of the planned acquisition of Athlon Holdings, Inc. Other statements contained in this press release that are not historical facts are forward-looking statements. The Company has tried, wherever possible, to identify forward-looking statements by terminology such as "may," "will," "could," "should," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and other comparable terminology.
The Company cautions you that any forward-looking statements presented in this press release are based on the beliefs of, assumptions made by, and information currently available to us. Such statements are based on assumptions, and the actual outcome will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond the Company's control or ability to predict. Although the Company believes that its assumptions are reasonable, it is not guaranteeing of future performance, and some will inevitably prove to be incorrect. As a result, the Company's actual future results can be expected to differ from its expectations, and those differences may be material. Accordingly, you should use caution in relying on forward-looking statements, which are based only on known results and trends at the time they are made, to anticipate future results or trends. Certain risks are discussed from time to time in the Company's filings with the SEC, including but not limited to, its Annual Report on Form 10-K for the year ended December 31, 2020, and any subsequently filed quarterly reports on Form 10-Q.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts
The Arena Group Contact:
Matthew Traub
Andrew Rhodes
DKC
arena@dkcnews.com
Rachael Fink
Communications Manager, The Arena Group
comms@thearenagroup.net
The Arena Group Investor Contact:
Rob Fink
FNK IR
646-809-4048
mven@fnkir.com
