Gaia Shares Rise After Closing $8M Stock Offering

Dow Jones02-07

By Connor Hart

Shares of Gaia climbed after the company said it closed an underwritten offering of $8 million worth of its common stock.

The stock rose 6.4% to $5.33 in after-hours trading on Friday. Shares ended the regular session roughly flat at $5.01, and are up 63% in the past year.

The video-streaming platform said it sold 1.6 million shares of this Class A common stock at $5 each. The company collected proceeds of roughly $7.2 million after deducting underwriting discounts and commissions, as well as estimated offering expenses.

Gaia said it plans to use the proceeds in part to enhance its artificial intelligence capabilities, as well as for general corporate purposes.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 07, 2025 17:23 ET (22:23 GMT)

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