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Thinly traded public company TheMaven, publisher of Sports Illustrated and owner of TheStreet.com, wants to try to juice its penny-stock price by approving a reverse stock split.
Nevertheless, company has not filed any financial-disclosure documents in nearly three years.
“We anticipate filing the statements for 2018 and 2019 in the next month,” TheMaven CEO Ross Levinsohn told Media Ink. He said reports for the first three quarters in 2020, which would include the period impacted by coronavirus, are probably not going to be ready.
As a result of the latest $24 million funding round, new investors include TCS Capital Management and Hunt Technology Ventures LP, which are joining existing investors
B. Riley Financial, Invenire Capital Partners and 180 Degree Capital, according to the SEC filings.
“The investments in Maven are another validation of our business model, strategy, and leadership team,” said Levinsohn, who was named CEO in late August after company founder James Heckman resigned.
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