Ross Levinsohn - 10 Aug 2023 Form 4 Insider Report for Arena Group Holdings, Inc. (AREN)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ Ross Levinsohn
Issuer symbol
AREN
Transactions as of
10 Aug 2023
Net transactions value
+$376
Form type
4
Filing time
14 Aug 2023, 16:46:10 UTC
Previous filing
26 Feb 2024
Next filing
06 Nov 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AREN Common Stock Conversion of derivative security $200,376 +27,600 +11% $7.26 289,314 10 Aug 2023 Direct

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
transaction AREN Series H Convertible Preferred Stock Conversion of derivative security $200,000 -200 -100% $1000.00* 0 10 Aug 2023 Common Stock 27,600 $7.26 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported transaction represents the mandatory conversion of the Issuer's outstanding shares of Series H Convertible Preferred Stock, which converted to Common Stock on August 10, 2023, pursuant to the Certificate of Designation of Preferences, Rights and Limitations of Series H Convertible Preferred Stock (the "Certificate of Designation") filed by the Issuer on or about August 8, 2018 with the Secretary of State of the State of Delaware. Pursuant to the Certificate of Designation, the conversion occurred automatically on the fifth anniversary of August 10, 2018, through no action on the part of the reporting person, and each share of Series H Convertible Preferred Stock converted into 138 shares of the Issuer's Common Stock.

Remarks:

The mandatory automatic conversion of the Issuer's Series H Convertible Preferred Stock was disclosed by the Issuer in its quarterly report on Form 10-Q for the period ended June 30, 2023, filed with the U.S. Securities and Exchange Commission on August 14, 2023.