The Arena Group has filed with the U.S. Securities and Exchange Commission to uplist its common stock to the NYSE under the symbol AREN.
TheMaven, currently operating under the name The Arena Group, on Tuesday announced that it has filed a registration statement on form S-1 with the U.S. Securities and Exchange Commission relating to a proposed offering of the company’s common stock.
In connection with the proposed offering, the company has applied to uplist its common stock (MVEN) from the OTCQX to the New York Stock Exchange (NYSE) under the anticipated ticker symbol AREN. Concurrent with the uplist, the company also plans to execute a reverse stock split of its common stock and officially change its name to The Arena Group Holdings Inc. The company will do business as The Arena Group.
The company’s Board of Directors was granted the authority to implement a reverse stock split by the holders of a majority of the company’s outstanding shares of common stock on Nov. 20, 2020. The implementation of the reverse stock split is consistent with the company’s previously announced intention to uplist to a national securities exchange.
While the company is not currently aware of any issues, there can be no assurance it will satisfy all applicable requirements for listing its common stock on the NYSE American Exchange or that the company’s application to list its common stock will be approved, the company said in a statement.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
A registration statement on Form S-1 relating to the proposed offering has been publicly filed with the SEC but has not yet become effective.
B. Riley Securities, Inc. is acting as the sole book-running manager for the proposed offering.
The Arena Group publishes TheStreet, Sports Illustrated, and a number of other publications.
