Business
Gaia Announces Closing of Underwritten Offering of $8.0 Million of Common Stock
BOULDER, Colo., Feb. 07, 2025 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA) (“Gaia” or the “Company”), a conscious media and community company, announced
About this update from Gaia, Inc.
[{"type":"text","content":"BOULDER, Colo., Feb. 07, 2025 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA) (“Gaia” or the “Company”), a conscious media and community company, announced today the closing of its previously announced underwritten public offering of 1,600,000 shares of its Class A common stock at a price to the public of $5.00 per share. Net proceeds to the Company, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company, were approximately $7.2 million. The Company intends to use the net proceeds from the offering primarily for, but not limited to, enhancements of our AI (Artificial Intelligence) capabilities, the development of the Gaia Community project, and for general corporate purposes. Roth Capital Partners and Lake Street Capital Markets acted as joint book-running managers for this offering. The offering was made pursuant to a shelf registration statement on Form S-3 (No. 333-283767) that was declared effective by the Securities and Exchange Commission (the “SEC”) on December 20, 2024. A final prospectus supplement and accompanying prospectus with respect to the offering has was filed with the SEC on February 6, 2025 and is available on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, by telephone at (800) 678-9147 or by email at [email protected]. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the shares of Class A common stock, nor will there be any sale of the shares of Class A common stock in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. About Gaia Gaia is a member-supported global video streaming service and community that produces and curates conscious media through four primary channels—Seeking Truth, Transformation, Alternative Healing and Yoga—in four languages (English, Spanish, French and German) to its members in 185 countries. Gaia’s library includes over 10,000 titles, over 88% of which is exclusive to Gaia, and approximately 75% of viewership is generated by content produced or owned by Gaia. Gaia is available on Apple TV, iOS, Android, Roku, Chromecast, and sold through Amazon Prime Video and Comcast Xfinity. Forward-L...