Online financial news publication TheStreet, Inc. (NASDAQ: TST ) will be acquired by Maven (OTC: MVEN ) for $16.5 million in cash. “The first step was the successful sale of our RateWatch business in June ...
"This is a good outcome for TheStreet's shareholders," Eric Lundberg, TheStreet's chief executive officer and chief financial officer, said in announcing the deal. Under terms of the agreement, investors will receive cash from Maven, and also a special distribution equal to the cash held by TheStreet immediately prior to the deal's closing (less any excluded liabilities agreed to between the parties). Additionally, stockholders will receive a special "contingent value right," or "CVR." This will entitle them to a pro-rata portion of funds held in escrow from TheStreet's previous sale of its RateWatch and BoardEx/TheDeal businesses.
Digital-media company TheMaven to acquire all outstanding shares of TheStreet for $16.5 million cash plus a $3.35-a-share special dividend. Investors holding more than 96% of shares OK'd the deal.
NEW YORK, Aug. 7, 2019 /PRNewswire/ -- TheStreet, Inc. (TST), a leading financial news and information company, today announced TheStreet's stockholders approved the previously announced merger transaction (the "Merger"), pursuant to which an indirect subsidiary of TheMaven, Inc., a coalition of content producers operating on a shared digital publishing, advertising and distribution platform ("Maven"), will acquire all of the outstanding common shares of TheStreet for $16.5 million in cash or $3.09183364 per share (the "Merger Consideration"). In addition to a pro-rata portion of the Merger Consideration, stockholders of TheStreet will receive additional consideration in connection with the closing of the Merger consisting of (1) a final special cash distribution of $3.35 per share as described below and (ii) a contingent value right, or CVR, which will entitle each holder to receive a pro-rata portion of funds escrowed in connection with the prior sale of its institutional business units when and if such funds are released from escrow in the first quarter of 2020 as further described below.
NEW YORK, July 31, 2019 /PRNewswire/ -- TheStreet, Inc. (TST), a leading financial news and information company, today provided several updates with respect to its pending sale transaction. TheStreet reported that leading independent proxy advisory firms Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis") have each recommended that stockholders of TheStreet vote "FOR" the pending merger with TheMaven, Inc. a coalition of content producers operating on a shared digital publishing, advertising and distribution platform ("Maven").
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NEW YORK, June 12, 2019 /PRNewswire/ -- TheStreet, Inc. (TST), a leading financial news and information company, today announced that it has entered into a definitive merger agreement (the "Agreement") with TheMaven Inc., a coalition of content producers operating on a shared digital publishing, advertising and distribution platform ("TheMaven"), by which a subsidiary of TheMaven will acquire all of the outstanding common shares of TheStreet for $16.5 million in cash (the "Purchase Price").