Gaia Announces Pricing of Underwritten Offering of $8.0 Million of Common Stock

About this update from Gaia, Inc.

[{"type":"text","content":"BOULDER, Colo., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA) (“Gaia” or the “Company”), a conscious media and community company, announced today that it has priced its underwritten public offering of 1,600,000 shares of its Class A common stock at a public offering price of $5.00 per share. The Company expects the gross proceeds from the offering to be approximately $8.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Company has granted the underwriters in the offering a 45-day option to purchase up to 240,000 additional shares of Class A common stock. The Company expects to close the offering, subject to market and other conditions, on February 7, 2025. 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 are acting as joint book-running managers for this offering. A shelf registration statement on Form S-3 (File No. 333-283767) relating to the shares of Class A common stock to be issued in the proposed offering was previously filed with the Securities and Exchange Commission (the “SEC”) and is currently effective. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering has been filed with the SEC. The shares of Class A common stock may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may be obtained, when available, 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]. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC’s website at www.sec.gov. 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 whic...

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