Troika Media Group, Inc. Announces Closing of Initial Public Offering
April 22 2021 - 5:54PM
via NewMediaWire -- Troika Media Group, Inc. (NasdaqCM:TRKA) ("TMG"
or "Company"), a brand identity and communications agency that
provides integrated branding and advertising solutions for global
brands, primarily in entertainment and sports, today announced the
closing of its initial public offering of 5,783,133 shares of
common stock and warrants to purchase 5,783,133 shares of
common stock at a public offering price of $4.15 per share for
aggregate gross proceeds of approximately $24.0 million prior to
deducting underwriting discounts, commissions, and other offering
expenses. In addition, the Company has granted the underwriters a
45-day option to purchase up to an additional 867,469 shares (and
warrants) at the public offering price less the underwriting
discounts and commissions.
The Company’s common stock and warrants are
listed for trading on the Nasdaq Capital Market under the ticker
symbol “TRKA” and “TRKAW”, respectively. Each warrant is
exercisable for one share of common stock at an exercise price of
$4.98 per share and will expire five years from issuance.
Kingswood Capital Markets, division of Benchmark
Investments, Inc., acted as sole book-running manager for the
offering. WestPark Capital, Inc. acted as co-manager.
The Securities and Exchange Commission ("SEC")
declared effective a registration statement on Form S-1 relating to
these securities on April 19, 2021. The offering was made only by
means of a prospectus, copies of which may be obtained from:
Kingswood Capital Markets, a division of Benchmark Investments
Inc., 17 Battery Place, Suite 625, New York, NY 10004, Attention:
Syndicate Department, or via email
at syndicate@kingswoodcm.com or telephone at (212)
404-7002.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Troika Media Group
Troika Media Group is a brand identity and
communications agency that provides integrated branding and
advertising solutions for global brands, primarily in entertainment
and sports. Applying emerging technology, data science, and
world-class creative, we help brands deepen engagement with
audiences and fans throughout the consumer journey. Clients include
Apple, CBS, AT&T, Comcast, CNN, HBO, Hulu, ABC, ESPN, IMAX,
Netflix, Oath, Riot Games, Sony, Turner and UFC. For more
information, visit www.thetmgrp.com; www.troika.tv
Forward-Looking Statements
Certain statements in this press release that
are not historical facts are forward-looking statements that
reflect management's current expectations, assumptions, and
estimates of future performance and economic conditions, and
involve risks and uncertainties that could cause actual results to
differ materially from those anticipated by the statements made
herein. Forward-looking statements are generally identifiable by
the use of forward-looking terminology such as "believe,"
"expects," "may," "looks to," "will," "should," "plan," "intend,"
"on condition," "target," "see," "potential," "estimates,"
"preliminary," or "anticipates" or the negative thereof or
comparable terminology, or by discussion of strategy or goals or
other future events, circumstances, or effects. Moreover,
forward-looking statements in this release include, but are not
limited to, the impact of the current COVID-19 pandemic, which may
limit access to the Company's facilities, customers, management,
support staff, and professional advisors, and to develop and
deliver advanced voice and data communications systems, demand for
the Company's products and services, economic conditions in the
U.S. and worldwide, and the Company's ability to recruit and retain
management, technical, and sales personnel. Further information
relating to factors that may impact the Company's results and
forward-looking statements are disclosed in the Company's filings
with the SEC. The forward-looking statements contained in this
press release are made as of the date of this press release, and
the Company disclaims any intention or obligation, other than
imposed by law, to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
Contact:
Kevin M. McGrathTraDigital IRTel: (646)
418-7002Email: kevin@tradigitalir.com
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