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TST

TheStreet

$5.78

(0.00%)

, MVEN

Maven

$0.00

(0.00%)

08:33
06/12/19
06/12
08:33
06/12/19
08:33

TheStreet to be acquired by Maven for $16.5M in cash

TheStreet (TST) announced that it has entered into a definitive merger agreement with TheMaven (MVEN), a coalition of content producers operating on a shared digital publishing, advertising and distribution platform, by which a subsidiary of TheMaven will acquire all of the outstanding common shares of TheStreet for $16.5M in cash. In addition to a pro-rata portion of the Purchase Price, stockholders of TheStreet will receive additional consideration in connection with the closing of the merger transaction consisting of, (1) a special cash distribution equal to the cash held by the company immediately prior to the closing less any excluded liabilities as agreed to between the parties; and (2) a contingent value right, or CVR, which will entitle each holder to receive a pro-rata portion of the expected release of funds from the outstanding escrow agreements entered into by the company in connection with the sale of each its RateWatch and BoardEx/TheDeal businesses. Stockholders of TheStreet are expected to receive total cash consideration, including payments under the CVR, of $33M-$34.5M, or $6.19-$6.47 per share, which represents an average premium of 7.8%-12.6%, respectively, over TheStreet's 7-day volume weighted average price of $5.74 as of June 11, 2019, the last trading day before the transaction announcement. The Agreement was approved by a majority of TheStreet's Board upon recommendation of the special committee of independent directors. The transaction is subject to the approval of a majority of the outstanding shares of common stock in TheStreet under Delaware law and is expected to be submitted for stockholder approval and close in the third quarter. The Board of Directors of TheStreet has recommended that the stockholders approve the merger agreement and the transactions contemplated by the merger agreement. No other regulatory approvals are expected to be required to complete the transaction.

TST

TheStreet

$5.78

(0.00%)

MVEN

Maven

$0.00

(0.00%)

TST TheStreet
$5.78

(0.00%)

11/15/18
LSCM
11/15/18
NO CHANGE
Target $3
LSCM
Buy
TheStreet deferred revenue accelerated in Q3, says Lake Street
Lake Street analyst Mark Argento says TheStreet posted "solid" Q3 results as deferred revenue started to accelerate. Strength in business-to-business, specifically BoardEx, along with premium business-to-consumer subscribers continued to drive increased deferred subscription revenue, Argento tells investors in a post-earnings research note. The analyst reiterates a Buy rating on the shares with a $3 price target.
12/06/18
RILY
12/06/18
NO CHANGE
Target $3
RILY
Buy
TheStreet trading below net cash after asset sale, says B. Riley FBR
TheStreet shares are trading below net cash following the sale of its institutional business units for $87.3M, B. Riley FBR analyst Kara Anderson tells investors in a research note. She reiterates a Buy rating on the name with a $3.00 price target.
04/04/19
LSCM
04/04/19
NO CHANGE
Target $3
LSCM
Buy
TheStreet distribution 'just right' in size, says Lake Street
TheStreet's $94.3M distribution, equating to $1.77 per share in cash, is "just right" in size, Lake Street analyst Mark Argento tells investors in a research note. The distribution leaves more than enough capital to run the remaining consumer business for the foreseeable future while the company continues to explore strategic alternatives, Argento tells investors in a research note. He believes the move is in the best interest of shareholders. The analyst keeps a Buy rating on TheStreet with a $3 price target.
05/15/19
NORL
05/15/19
NO CHANGE
Target $10
NORL
Outperform
TheStreet price target raised to $10 from $3 at Northland
Northland analyst Mike Grondahl raised his price target on the TheStreet to $10 from $3 after the company reported Q1 earnings, stating that while low margin ad revenue is still a headwind, the underlying metrics of its consumer business were "nicely improved." He keeps an Outperform rating on TheStreet shares.
MVEN Maven
$0.00

(0.00%)

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$NSD

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