Flash report on assets under management for the period ending August 31, 2022 and update on the rights offering


GREENWICH, Conn.–(BUSINESS WIRE)–Teton Advisors, Inc. (“Teton”) (OTC PINK: TETAA) Advance Announces Assets Under Management (AUM), Revenue, Cash and Marketable Securities as of August 31, 2022, and Updates the progress of its rights offering.

Flash Report: The company’s assets under management, revenue, cash and marketable securities as of August 31, 2022 and other highlights are as follows:

  • Assets under management were $1.6 billion as of August 31, 2022, compared to $2.0 billion as of December 31, 2021.

  • Revenue for the August 2022 monthly period is expected to be approximately $1.1 million, compared to $1.4 million for the comparative period in 2021 and compared to $1.3 million for the July 2022 monthly period Revenue for the year-to-date period ending August 31, 2022 is expected to be approximately $9.5 million, compared to $11.0 million for the comparative period in 2021.

  • Cash and cash equivalents and marketable securities (net of brokers’ payables) totaled approximately $15.2 million as of August 31, 2022, compared to $13.2 million as of December 31, 2021.

  • Improved Morningstar ratings for the company’s scalable SmallCap Equity Fund (WESCX) in 2022, providing investors with small cap capability and bolstering the Teton platform’s potential for expansion.

  • The rights offering period continues until September 21, 2022. Assuming the rights offering is fully subscribed, the Company expects gross proceeds from the offering to be approximately $6 .8 million. The subscription rights trade on the OTC PINK (ticker: TETAR) up to five business days before expiry, i.e. September 14, 2022.

“Our commitment is to drive a return for our clients using our value-based methodologies. So this rights offering helps strengthen the platform as our team carries out its mission for clients’ portfolios. We are delighted to build on the next step in the Teton and Keeley funds’ legacy of excellence in small-cap investing Small caps are now selling at the biggest discount to large-caps in 35 years. should generate long-term value for our customers,” said Patrick Huvane, the company’s chief financial officer.

The rights offering entitles Teton shareholders to receive transferable rights to purchase additional Class A common shares of the company, with a par value of $0.001 per share, at a subscription price of 15.50 $. The record date was June 3, 2022. Only Class A common shares will be issued, whether or not the registered shareholder holds Class A common shares and/or Class B common shares. All registered shareholders will receive three (3) subscription rights for each Class A common share and/or Class B common share then held. Nine (9) rights are required to subscribe for one new Class A common share. The net proceeds of the offering will be used as working capital for general corporate purposes and for acquisitions, although the Company has not identified any specific acquisitions at this time.

The Rights Offering includes an Oversubscription Privilege, which will provide a Registered Shareholder, who exercises all of their Basic Subscription Rights in full, the right to purchase additional Common Shares that remain unsubscribed at the expiration of the Offering. of rights, subject to the availability and the proportional distribution of the shares between the persons exercising this right of oversubscription. However, rights purchased on the secondary market are not eligible for the oversubscription right. The Class A common shares issued pursuant to the rights offering will be listed on the over-the-counter (OTC) market.

The Company reserves the right to modify, postpone or cancel the Rights Offering at any time prior to the closing of the issuance of Class A Common Shares pursuant to the Rights Offering.

189 Mason Street ∙ Greenwich, CT 06830 Tel. (914) 457-1070 ∙ Fax (914) 921-5091 ∙

www.tetonadv.com

ABOUT TETON

Teton Advisors, Inc. (OTC Pink: TETAA) is a small business investment specialist, serving a diverse clientele of institutional, high net worth and mutual fund investors under brands such as Teton Westwood, Gabelli and Keeley. The company was founded on a commitment to discovering value by focusing on companies that are misunderstood or ignored by the market using methodologies developed by investment pioneers Mario Gabelli and John L. Keeley, Jr. As active and fundamental investors, Teton’s portfolio teams think independently. and focus on identifying short-term market inefficiencies to generate long-term alpha. Teton’s investment professionals share the belief that difference is the cornerstone to uncovering hidden value in stocks. Teton’s time-tested investment approaches can help differentiate your clients’ portfolios, offering differentiated attributes to complement a broader portfolio. From humble beginnings over 40 years ago to today, the disciplined discovery of value™ has shaped the cornerstone of our clients’ long-term success.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure and analysis in this press release contains “forward-looking statements”. Forward-looking statements reflect our current expectations or predictions of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “believe” and other words and terms of similar meaning . They also appear in any discussion of future operational or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings and financial results. Although we believe that we base our expectations and beliefs on reasonable assumptions within the limits of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ not noticeably of what we expect or believe. Accordingly, you should proceed with caution when relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

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