February 14, 2024 · Form 4 insider transaction
Simplify Inventions, LLC bought 5,555,555 shares of The Arena Group Holdings, Inc. at $2.16 per share, a transaction worth $12.00M. The trade was recorded as open-market purchase and disclosed on an SEC Form 4, filed 2 days after the transaction.
The shares of Arena Group Holdings, Inc. (the "Issuer") common stock ("Common Stock") are held by Simplify Inventions, LLC ("Simplify"). Manoj Bhargava is the sole manager, the control person and the Chief Executive Officer of Simplify and has sole voting and investment discretion with respect to the shares of Common Stock held by Simplify. Mr. Bhargava disclaims any beneficial ownership of the securities held by Simplify other than to the extent of any pecuniary interest he may have therein, directly or indirectly.; Pursuant to Rule 16a-1(a)(4) under the Exchange Act, this filing shall not be deemed an admission that Simplify and Mr. Bhargava (together, the "Reporting Persons") are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owners of any equity securities in excess of their respective pecuniary interests.