Gaia Announces Pricing of Underwritten Public Offering of Common Stock

About this update from Gaia, Inc.

[{"type":"text","content":"BOULDER, Colo., Oct. 03, 2023 (GLOBE NEWSWIRE) -- Gaia, Inc. (NASDAQ: GAIA), a conscious media and community company, today announced the pricing of its underwritten public offering of 1,855,000 shares of its Class A common stock (“common stock”), at a price to the public of $2.70 per share. The gross proceeds to the Company from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $5.0 million. In connection with the offering, the Company also granted the underwriter a 30-day option to purchase up to an additional 278,250 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on October 5, 2023, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include additions to working capital, financing of capital expenditures, repayment of indebtedness, acquisitions and strategic investment opportunities. Lake Street Capital Markets, LLC is acting as sole book-running manager for the offering. The securities are being offered by the Company pursuant to a “shelf” registration statement on Form S-3, including a base prospectus, previously filed with the Securities and Exchange Commission (the “SEC”), and declared effective by the SEC. The offering will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Copies of the final prospectus supplement and accompanying base prospectus may be obtained, when available, for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement relating to the offering may be obtained by contacting: Lake Street Capital Markets, LLC, Attn: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, by calling (612) 326-1305, or by emailing [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in whic...

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