Seattle-based digital media startup, TheMaven Network, raises $3.5M in stock sale
SEATTLE, Wash. – April 10, 2017 — TheMaven Network Inc. announced that on April 4, 2017, the Seattle-based digital media startup completed a private placement of its common stock, selling 3,765,000 shares at $1.00 per share, for total gross proceeds of $3,765,000. The shares are restricted and may be registered at a later date. Net proceeds after issuance costs is approximately $3.5 million.
James Heckman, TheMaven’s CEO, stated, “This capital raise positions us solidly for the launch of our digital media platform and to expected revenue generation later this year. We are gratified to see the quality and sophistication of our new investors and their interest in assisting in the long-term development of the company.”