Manoj Bhargava Invests $12 Million More in The Arena Group
The Arena Group Holdings, Inc. (AREN)
Company Research
Source: Business Wire
“The news of our demise is a little early. We’re not going anywhere.” – Bhargava NEW YORK--(BUSINESS WIRE)--Today, The Arena Group (NYSE American: AREN) announced that its largest shareholder, Simplify Inventions, LLC, is increasing its investment in the company by providing an additional $12 million in equity at an 85% premium over yesterday’s closing stock price. This is intended to help sustain the company during its transformation. https://arenagroup.gcs-web.com/node/11216/html“This infusion of cash is needed to help The Arena Group transition to a profitable, multi-media business,” said Bhargava. “The news of our demise is a little early. We’re not going anywhere.”This new $12 million investment will raise Simplify’s equity stake to 54.5% of The Arena Group. This equity investment demonstrates Mr. Bhargava’s full faith in the continuing operations of The Arena Group and helps restore confidence of its shareholders and customers.The Arena Group continues to work with Authentic
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AREN
Earnings
- 11/14/23 - Miss
AREN
Sec Filings
- 4/25/24 - Form 425
- 4/25/24 - Form 8-K
- 4/1/24 - Form 10-K
- AREN's page on the SEC website