Troika Media Group (NASDAQ: TRKA) (“TMG”), a brand consultancy and marketing innovations company that provides integrated branding and marketing solutions for global brands, recently announced its entry into a securities purchase agreement with certain institutional investors to purchase $50 million worth of its Series E convertible preferred stock and warrants in a private placement. Under the terms, TMG agreed to sell 500,000 shares of its Series E preferred stock and warrants to purchase up to 33,333,333 shares of the company’s common stock. Each share of the Series E preferred stock will have a stated value of $100 and be convertible after the closing date into shares of common stock at a conversion price of $1.50 per share, subject to adjustment. The warrants, exercisable immediately upon the date of issuance, have an exercise price of $2.00 per share, subject to adjustment. EF Hutton, division of Benchmark Investments LLC, acted as exclusive placement agent for the offering.
To view the full press release, visit https://ibn.fm/0Bjfj
About Troika Media Group Inc.
Troika Media Group is an end-to-end brand solutions company that creates both near-term and long-term value for global brands in entertainment, sports and consumer products. Applying emerging technology, data science and world-class creative, TMG helps brands deepen engagement with audiences and fans throughout the consumer journey and builds brand equity. Clients include Apple, Hulu, Riot Games, Belvedere Vodka, Unilever, UFC, Peloton, CNN, HBO, ESPN, Wynn Resorts and Casinos, Tiffany & Co., IMAX, Netflix, Sony, Yahoo and Coca-Cola. For more information, visit www.TheTMGrp.com.
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