The Arena Group, a group media network that operates an online publishing platform, filed on Wednesday with the SEC to raise up to $30 million in an initial public offering. The company is currently quoted on the OTCQX under the symbol “MVEN” with a market cap of $161 million.
The Arena Group focuses on leveraging its platform and brands in targeted verticals to maximize its audience, improve engagement, and optimize monetization of digital publishing assets. The company operates the media businesses for Sports Illustrated, owns and operates TheStreet and College Spun Media, and powers more than 200 independent publisher partners. Formerly known as theMaven, the company rebranded to The Arena Group in September 2021.
The New York, NY-based company was founded in 1990 and booked $170 million in revenue for the 12 months ended September 30, 2021. It plans to list on the NYSE American under the symbol AREN. B. Riley Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
