NEW YORK–(BUSINESS WIRE)–theMaven, Inc. (OTCQX: MVEN), currently operating under the brand name The Arena Group (the “Company”), today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) 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 from the OTCQX to the NYSE American under the anticipated 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. and 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 November 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 we are not currently aware of any issues, there can be no assurance that the Company 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 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.

B. Riley Securities, Inc. is acting as the sole book-running manager for the proposed 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. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, will be filed with the SEC and may be obtained from B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th St. North, Suite 1300, Arlington, VA 22209, by telephone at (703) 312-9580 or by email at prospectuses@brileyfin.com.

This press release does not constitute an offer to sell or the solicitation to of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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 proposed offering, and the plan to uplist to the NYSE American Exchange. 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 Contacts:
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

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