On Jan 18, Arena Group Holdings Inc Says ABG-SI LLC Notified Co Of Intention To Terminate Licensing Agreement, Dated June 14, 2019, Effective Immediately; Upon Termination, A Fee Of $45M Became Immediately Due And Payable By Company To ABG
Portfolio Pulse from Benzinga Newsdesk
Arena Group Holdings Inc was notified by ABG-SI LLC of their intention to immediately terminate a licensing agreement dated June 14, 2019. As a result of the termination, Arena Group is required to pay a fee of $45 million to ABG-SI LLC, as per the SEC filing.
January 19, 2024 | 6:16 pm
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Arena Group Holdings Inc must pay a $45 million fee due to the termination of a licensing agreement with ABG-SI LLC, which could significantly impact its financial position.
The immediate termination of the licensing agreement and the substantial fee of $45 million are likely to have a negative impact on Arena Group's financials. This could lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
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