The Arena Group Holdings, Inc. acquired Certain Assets of Teneology, Inc..
January 12, 2023
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The Arena Group Holdings, Inc. (NYSEAM:AREN) acquired Certain Assets of Teneology, Inc. on January 11, 2023. The Company will pay for the transaction with Company stock and cash on hand.
The Arena Group Holdings, Inc. (NYSEAM:AREN) completed the acquisition of Certain Assets of Teneology, Inc. on January 11, 2023. The purchase price $3.307 milllion consisted of the following: (1) $0.5 million cash paid at closing; (2) $75 deferred cash payments due in three equal installments of $ 25 on March 1, 2023 (paid), April 1, 2023 and May 1, 2023, with the remaining payments subject to certain conditions; (3) $200 deferred cash payment due on the first anniversary of the closing date, subject to certain indemnity provisions; and (4) the issuance of 274,692 shares of the Company's common stock, subject to certain lock-up provisions, with a fair value of $2 million on the transaction closing date.
The Arena Group Holdings, Inc. is a tech-powered media company. It focuses on leveraging its Platform and brands in targeted verticals to maximize audience reach, enhance engagement, and optimize monetization of digital publishing assets for the benefit of its users, its advertiser clients, and its owned and operated properties as well as properties it runs on behalf of independent Publisher Partners. Its proprietary online publishing platform provides its owned and operated media businesses, Publisher Partners (who are third parties producing and publishing content on their own domains), and individual creators contributing content to its owned and operated sites (Expert Contributors), the ability to produce and manage editorially focused content through tools and services provided by the Company. The Platform comprises publishing tools, video platforms, social distribution channels, newsletter technology, machine learning content recommendations, notifications, and other technology.
THE ARENA GROUP HOLDINGS, INC. 
