Gaia Prices Underwritten Public Offering of 1.9M Shares at $2.70/Share

Gaia, Inc. (NASDAQ:GAIA), a conscious media and community company, today announced the pricing of its underwritten public offering of 1,855,000 shares of its Class A common stock ("common stock"), at a price to the public of $2.70 per share. The gross proceeds to the Company from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $5.0 million. In connection with the offering, the Company also granted the underwriter a 30-day option to purchase up to an additional 278,250 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on October 5, 2023, subject to customary closing conditions.
 

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include additions to working capital, financing of capital expenditures, repayment of indebtedness, acquisitions and strategic investment opportunities.