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MVEN theMaven

Employees

Data from SEC filings
Employee count

Shareholder alignment

Vote support at last AGM


On November 12, 2020, the Board of Directors (the “Board”) of theMaven, Inc. (the “Company”) unanimously approved and recommended, and on November 12, 2020 (the “Record Date”), certain stockholders of the Company, including those individuals entitled to the voting power associated with shares beneficially owned by certain other individuals pursuant to voting agreements delivered to the Company by individual stockholders (the “Consenting Stockholders”), holding in aggregate approximately 75.13% of the voting power of the Company consisting of the Company’s issued and outstanding shares of (i) common stock, par value $0.01 per share (the “Common Stock”); (ii) Series H Convertible Preferred Stock, par value $0.01 per share (the “Series H Preferred Stock”); (iii) Series I Convertible Preferred Stock, par value $0.01 per share (the “Series I Preferred Stock”); (iv) Series J Convertible Preferred Stock, par value $0.01 per share (the “Series J Preferred Stock”); and (iv) Series K Convertible Preferred Stock, par value $0.01 per share (the “Series K Preferred Stock”), voting together as a single class (the Common Stock, Series H Preferred Stock, the Series I Preferred Stock, the Series J Preferred Stock, and the Series K Preferred Stock are collectively referred to herein as the “Voting Securities”), approved by written consent in lieu of a special meeting of stockholders, in accordance with the applicable provisions of the Delaware General Corporation Law, the Company’s Restated Certificate of Incorporation, and the Amended and Restated Bylaws, the following proposed corporate actions (the “Corporate Actions”):



Corporate Action 1: To approve an amendment to the Company’s Restated Certificate of Incorporation to increase the number of authorized shares of the Common Stock from 100,000,000 shares to 1,000,000,000 shares.



Corporate Action 2: To authorize the Board to effect, at a later date to be determined by the Board in its sole discretion, a reverse stock split with respect to the Common Stock, with a ratio of no less than two-for-one, but no greater than one hundred-for-one, in the Board’s sole discretion (the “Reverse Stock Split”), and to file an amendment to the Company’s Restated Certificate of Incorporation to effect the Reverse Stock Split.

The stockholder approval of the Corporate Actions will not be effective until 20 days after an information statement that has been filed with the Securities and Exchange Commission is mailed to the holders of our Voting Securities pursuant to Regulation 14C under the Securities Exchange Act of 1934, as amended.