BRC Group Holdings, Inc. - 30 Sep 2021 Form 4 Insider Report for theMaven, Inc. (AREN)

Role
10%+ Owner
Signature
B. Riley Financial, Inc., by: /s/ Bryant R. Riley, Co-Chief Executive Officer
Issuer symbol
AREN
Transactions as of
30 Sep 2021
Net transactions value
$0
Form type
4
Filing time
29 Oct 2021, 21:30:18 UTC
Previous filing
29 Sep 2021
Next filing
08 Oct 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding AREN Common Stock, par value $0.01 per share 4,094,708 30 Sep 2021 By B. Riley Principal Investments, LLC F1, F2, F3
holding AREN Common Stock, par value $0.01 per share 71,442,983 30 Sep 2021 By BRF Investments, LLC F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding AREN Series H Preferred Stock, par value $0.01 per share 110 30 Sep 2021 Common Stock, par value $0.01 per share $0.3300 By B. Riley Principal Investments, LLC F1, F2, F3, F4
holding AREN Series H Preferred Stock, par value $0.01 per share 865 30 Sep 2021 Common Stock, par value $0.01 per share $0.3300 By BRF Investments, LLC F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by B. Riley Financial, Inc., a Delaware corporation ("BRF"), B. Riley Principal Investments, LLC, a Delaware limited liability company ("BRPI"), BRF Investments, LLC, a Delaware corporation ("BRFI"), and Bryant Riley.
F2 BRF is the parent company of BRPI. As a result, BRF may be deemed to indirectly beneficially own the securities of theMaven, Inc. (the "Issuer") held of record by BRPI. BRF is the parent company of BRFI. As a result, BRF may be deemed to indirectly beneficially own the securities of the Issuer held of record by BRFI. BRF expressly disclaims beneficial ownership of the securities of the Issuer reported herein held indirectly except to the extent of such Reporting Person's pecuniary interest therein.
F3 Bryant Riley, as Chief Executive Officer of BRCM and Chairman and Co-Chief Executive Officer of BRF, has voting power and dispositive power over the securities of the Issuer held of record by BRPI and BRFI. As a result, Bryant Riley may be deemed to indirectly beneficially own the securities of the Issuer held of record by BRPI and BRFI. Mr. Riley expressly disclaims beneficial ownership of the securities of the Issuer reported herein held indirectly except to the extent of his pecuniary interest therein.
F4 Subject to the conversion limitation described in the next sentence, the reported security is convertible into common stock of the Issuer at any time, and has no expiration date, but is subject to mandatory conversion on the fifth anniversary of the issuance date. The reported security is subject to a conversion limitation that prohibits the Issuer from effecting a conversion of the reported security into common stock if giving effect to the conversion would cause the holder to beneficially own (together with its affiliates or any "group" members) in excess of 4.99% of the common stock (or, upon notice by the holder, in excess of 9.99% of the common stock).

Remarks:

As of September 30, 2021, by virtue of the removal of any trading and voting power authority in any capacity of BRF, B. Riley Capital Management, LLC, a New York limited liability company, a registered investment advisor ("BRCM"), and Bryant R. Riley over the assets of BRC Partners Opportunity Fund, LP, a Delaware limited partnership ("BRPLP"), BRF, BRCM and Bryant R. Riley no longer may be deemed to beneficially own the shares held by BRPLP.