| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $7.9M | +958K | $8.25 | 958K | Feb 11, 2022 | By B. Riley Securities, Inc. | F1, F2, F3 | |
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $6.2M | +752K | $8.24 | 752K | Feb 11, 2022 | Direct | F4 | |
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $103K | +12.5K | $8.25 | 12.5K | Feb 11, 2022 | By Bryant R. Riley, as UTMA custodian for Charlie Riley | F1, F3 | |
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $103K | +12.5K | $8.25 | 12.5K | Feb 11, 2022 | By Bryant R. Riley, as UTMA custodian for Eloise Riley | F1, F3 | |
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $103K | +12.5K | $8.25 | 12.5K | Feb 11, 2022 | By Bryant R. Riley, as UTMA custodian for Susan Riley | F1, F3 | |
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $103K | +12.5K | $8.25 | 12.5K | Feb 11, 2022 | By Bryant R. Riley, as UTMA custodian for Abigail Riley | F1, F3 | |
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $83.6K | +10.2K | +1.06% | $8.20 | 968K | Feb 14, 2022 | By B. Riley Securities, Inc. | F1, F2, F3, F5 |
| transaction | AREN | Common Stock, par value $0.01 per share | Purchase | $1.73M | +208K | +27.65% | $8.34 | 960K | Feb 14, 2022 | Direct | F4 |
| holding | AREN | Common Stock, par value $0.01 per share | 3.43M | Feb 11, 2022 | By BRF Investments, LLC | F1, F2, F3, F6, F7 |
| 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 | Feb 11, 2022 | Common Stock, par value $0.01 per share | $0.33 | By B. Riley Principal Investments, LLC | F1, F2, F3, F8 | ||||||
| holding | AREN | Series H Preferred Stock, par value $0.01 per share | 865 | Feb 11, 2022 | Common Stock, par value $0.01 per share | $0.33 | By BRF Investments, LLC | F1, F2, F3, F8 |
| Id | Content |
|---|---|
| F1 | This Form 4 is filed jointly by B. Riley Financial, Inc., a Delaware corporation ("BRF"), B. Riley Securities, Inc., a Delaware corporation ("BRS"), B. Riley Principal Investments, LLC, a Delaware limited liability company ("BRPI"), BRF Investments, LLC, a Delaware corporation ("BRFI"), and Bryant R. Riley. |
| F2 | BRF is the parent company of BRS, BRPI and BRFI. As a result, BRF may be deemed to indirectly beneficially own the securities of The Arena Group Holdings, Inc. (the "Issuer") held of record by BRS, BRPI and 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 R. 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 BRS, BRPI and BRFI. As a result, Bryant R. Riley may be deemed to indirectly beneficially own the securities of the Issuer held of record by BRS, BRPI and BRFI. Bryant R. 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 | Represents shares held directly by Bryant R. Riley. |
| F5 | The price reported in Column 4 is a weighted average price. These shares were purchased in the secondary market in multiple transactions at prices ranging from $8.15 to $8.20, inclusive. The Reporting Persons undertakes to provide to the Commission, upon request, full information regarding the number of shares purchased at each separate price. |
| F6 | Reflects the reverse stock split of the Issuer's outstanding common stock at an assumed one-for-twenty-two (1-for-22) ratio effective on February 8, 2022 (the "Reverse Stock Split"). |
| F7 | Includes 186,124 shares (or 4,094,708 pre-Reverse Stock Split shares) of common stock originally held by BRPI, and subsequently transferred to BRFI. |
| F8 | 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). |