LOUISiILLE — Gaia Inc., which operates a video-streaming service worldwide focused on well-being and yoga, said on Thursday it will offer about 2.3 million shares of common stock in a public offering.
Louisville-based Gaia (Nasdaq: GAIA) is selling the stock for $15 a share in hopes of raising $35 million. After deducting the underwriters’ discount and other estimated offering expenses, Gaia expects to have $32.3 million that will be used for general corporate purposes, including working capital.
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Gaia granted the underwriters a 30-day option to purchase at the public offering price, less the underwriting discount, up to an additional 350,000 shares of Class A common stock to cover over-allotments, if any. The sale closes March 26.
Los Angeles-based B. Riley FBR Inc. is acting as the sole book-running manager for the offering. Lake Street Capital Markets in Minneapolis will serve as lead manager, and Dougherty & Co. in Minneapolis will serve as co-manager for the offering. Roth Capital Partners based in Newport Beach, Calif., advised Gaia.
LOUISiILLE — Gaia Inc., which operates a video-streaming service worldwide focused on well-being and yoga, said on Thursday it will offer about 2.3 million shares of common stock in a public offering.
Louisville-based Gaia (Nasdaq: GAIA) is selling the stock for $15 a share in hopes of raising $35 million. After deducting the underwriters’ discount and other estimated offering expenses, Gaia expects to have $32.3 million that will be used for general corporate purposes, including working capital.
Sponsored Content
Demystifying Your Balance Sheet - For Business Owners
Tap into your company’s potential by taking some of the mystery out of your balance sheet. At Elevations Credit Union, helping our business members optimize their financial performance is exactly what we do.
Gaia granted the underwriters a 30-day option to purchase at the public offering price, less the underwriting discount, up to an additional 350,000 shares of Class A common stock to cover over-allotments, if any. The sale closes March 26.
Los Angeles-based B. Riley FBR Inc. is acting as the sole book-running manager for the offering. Lake Street Capital Markets in Minneapolis will serve as lead manager, and Dougherty & Co. in Minneapolis will serve as co-manager for the offering. Roth Capital Partners based in Newport Beach, Calif., advised Gaia.
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