Market Overview

Maven (theMaven, Inc. MVEN) Secures Acquisition Funding, Signs Definitive Agreement to Purchase Say Media Assets


Financing was led with investments from B. Riley FBR, Inc. and certain
affiliates and Maven executives.

Maven announced today it signed the definitive agreement and acquired
sufficient funding to acquire substantially all the Say Media assets,
which include enterprise advertising and tech platform partnerships with
over 125 digital media brands. Maven also announced a convertible
preferred stock financing round with net cash proceeds of approximately
$13 million (at a price of $0.33 cents per share of common stock on an
as-converted basis) which will be used to complete the Say asset
purchase, the HubPages merger, and provide working capital. Both the Say
asset purchase and HubPages merger are scheduled to close, with
operations consolidating, during August 2018. The preferred stock
funding was led by investments from B. Riley FBR and Maven CEO and
founder James Heckman.

This press release features multimedia. View the full release here:

"Maven now has the media and sales assets, as well as funding, to
deliver on our plan to reach a $30 million annualized revenue run rate
and positive EBITDAS during Q4 2018," said Heckman.

The consolidation of Say, Maven and HubPages onto the Maven brand should
immediately result in 100 million monthly visitors and over 300
professional publishers. The founders of the three companies discussed
the merger in a video you can watch

Maven expects partnership growth to continue at a steady pace across
multiple content categories, including its recently
announced sports division

"The combined scale of a unified sales, distribution and publishing
platform creates an opportunity for professional, independent publishers
and media brands to not only survive, but to thrive," says Say Media
Founder and CEO Matt Sanchez. "We're also contributing a fully
developed, direct sales team, which will offer enormous value by
increasing revenue for the entire coalition."

"We believe the combined portfolio of independent brands from Hub, Say
and Maven have the potential to attain a material amount of market share
from premium brand advertiser spending," added Maven Chairman and
President Josh Jacobs. "Delivering audience scale plus professional,
safe content on an efficient, unified platform, creates a new premium
platform for marketers."

B. Riley FBR, Inc., a full service investment bank and wholly-owned
subsidiary of B. Riley Financial, Inc., acted as sole placement agent
for the offering.

Maven is a coalition of mavens operating on a shared digital publishing,
advertising and distribution platform, unified under a single media
brand. Based in Seattle, Maven is publicly traded under the ticker
symbol MVEN.

Maven (noun | ma·ven | ˈmā-vən): A professional, authentic authority,
evangelist and recognized community leader for a specific topic, cause
or organization.

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