Recent investment and related update to MVEN Capital Structure
On March 18, 2019, Maven executed a follow-on transaction under similar terms to the one conducted last December in association with the Say Media merger closure. The Company entered into a Securities Purchase Agreement with two accredited investors, including John Fichthorn, the Company’s Chairman of the Board, pursuant to which the Company issued Senior Secured Subordinated Debentures. After taking into account legal fees and expenses, the Company received net proceeds of $1,590,000.
On a fully diluted basis the Company, as of March 25, 2019, would have 170,928,678 shares of Common Stock Equivalents issued and outstanding*.
As of March 25, 2019, the issued and outstanding shares of capital stock of the Company were:
- 37,743,372 shares of Common stock, $.01 par value
- 19,567 shares of Preferred Stock, Series H and G, $.01 par value
CONGRATS to these recently-launched mavens:
- Talk of Fame Network - pro football Hall of Fame
- SunDevilMaven - all things Arizona State sports
- Dealbreaker - personalities & culture that shape the financial industry
- CardinalsMaven - covering the NFL’s Arizona Cardinals
- Pro Football Guru - insight from ESPN veteran Russell Baxter
- Inside The Seams - MLB and Rockies baseball coverage
- Why Do Dogs? - Q&A about dogs, with a fun attitude
- BassMagazine.com - the musical instrument, not the fish!
- Rick Benningfield - horse trainer & farrier, a fresh face on HubPages
- The Gun Violence Reporter - news & discussion on an important topic
- Thunder Maven - a community for NBA Oklahoma City Thunder fans
- Ram Maven - a community for NFL LA Rams fans
- Trail Blazer Maven - all things Portland Trail Blazers
- Heat Maven - a community for Miami Heat NBA fans
We’re All Mavens Now
With the acquisitions of both HubPages and Say Media complete, we're now operating as one Maven company with over 100 million monthly users.
That scale brings tremendous benefits to every member of the coalition, from product to distribution to monetization. It unlocks advertisers and campaigns and distribution opportunities that simply aren’t available to smaller properties. We’ve been in-market since last year as a unified property, and continue unifying our advertising platform and partnerships. In time, that will bring opportunities for more dollars to our partners.
Integrating three talented engineering teams and platforms, with complementary strengths, also brings product benefits - some immediate, most longer-term. We are not replacing the current platforms with a grand architecture. Instead, we’re using a modular approach, to bring best-in-class features from each platform to the others over time.
Among the first post-merger integration projects will bring the rich authoring tools of Say Media’s platform to users of the original Maven community-oriented platform. This will also give partners features like photo galleries, additional embed types, a media library, easier author attribution and much more.
The “Medium View” option is now live on Maven. While less photo-oriented than the standard layout, it’s good for sites with a lot of news density or intense communities, and several partners now utilize it.
Maven of the Week
Guitar Player is the world’s most comprehensive, trusted and insightful guitar publication for passionate guitarists and active musicians of all ages. Every style is covered, including rock, blues, metal, and jazz. They also interview the best guitar players in the world, like these gems with the late Prince.