theMaven (MVEN) Launches Public Offering, Uplists to NYSE

Maven, Inc. (OTCQX: MVEN), currently operating under the brand name The Arena Group (the “Company”), today announced that it intends to offer shares of its common stock for sale in an underwritten public offering. All of the shares in the offering are being offered by the Company. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of shares of its common stock on the same terms and conditions. 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 and Lake Street Capital Markets, LLC is acting as lead manager and qualified independent underwriter for the offering.

In connection with the proposed offering, the Company anticipates uplisting its common stock to the NYSE American under the symbol “AREN” and anticipates effecting a name change and a 1-for-22 reverse stock split (the “Reverse Stock Split”) of its common stock, par value $0.01 per share. The new corporate name for the Company will be The Arena Group Holdings, Inc. and the Company will do business as The Arena Group. The first date of trading on the NYSE American is expected to be February 4, 2022. The Company’s new CUSIP upon completion of the name change, the Reverse Stock Split, and uplist to the NYSE American will be 040044 109.

A registration statement on Form S-1 (File No. 333-262111), as amended by Pre-Effective Amendment No. 1, relating to the offering has been filed with the Securities and Exchange Commission (the “SEC”). Copies of the preliminary prospectus relating to the offering have been 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 [email protected].

This press release does not constitute an offer to sell or the solicitation 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.

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