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Teton Rights Listed on the OTC

·3-min read

GREENWICH, Conn., June 27, 2022--(BUSINESS WIRE)--Teton Advisors, Inc. ("Teton") (OTC PINK: TETAA) announced today that its recently issued subscription rights are now listed and available for trading on the OTC PINK under the ticker symbol "TETAR". These rights are expected to trade on the OTC until five business days before September 21, 2022; the expiration date of the subscription period.

Patrick Huvane, Teton’s CFO, said, "We believe that providing our shareholders with the ability to trade the rights in the secondary market should provide them with greater flexibility in generating value and liquidity."

The Company had previously announced the rights offering (, which gives Teton stockholders of record as of June 3, 2022, the right to receive transferable rights to purchase additional shares of the Company’s Class A common stock, par value $0.001 per share, at a subscription price of $15.50. Only Class A common stock will be issued regardless of whether the stockholder of record holds Class A common stock and/or Class B common stock. All stockholders of record will receive three (3) subscription rights for each share of Class A common stock and/or Class B common stock then owned. Nine (9) subscription rights are needed to subscribe for a new share of Class A common stock. Assuming the rights offering are fully subscribed, the Company expects the gross proceeds of the offering to be approximately $6.8 million. 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 also includes an over-subscription right, which will provide a stockholder of record, who exercises all of his or her basic subscription rights in full, the right to purchase additional shares of common stock that remain unsubscribed at the expiration of the rights offering, subject to the availability and pro rata allocation of shares among persons exercising this over-subscription right. However, rights purchased in the secondary market are not eligible for the over-subscription right.

The Company cannot give any assurance that a market in the rights will develop or that it will be sustainable. The Company is also unable to determine the prices at which the rights will trade.

For more information, please see link with final offering circular below: https://www.sec.gov/Archives/edgar/data/0001444874/000121390022031108/ea161143-253g2_tetonadvisors.htm

ABOUT TETON

Teton Advisors, Inc. (OTC Pink: TETAA) is a specialist in smaller company investing, serving a diverse client base of institutional, high net worth and mutual fund investors under brands including Teton Westwood, Gabelli and Keeley. The company was founded on a commitment to uncover value by focusing on companies that are misunderstood or ignored by the market utilizing methodologies developed by investment pioneers Mario Gabelli and John L. Keeley, Jr. As active, fundamental investors, the Teton portfolio teams think independently and focus on identifying short-term market inefficiencies to generate long-term alpha. Teton’s investment professionals share in the belief that being different is the cornerstone to discovering hidden value in equities. The Teton time tested investment approaches can help set apart your client portfolios, delivering differentiated attributes to round out a broader portfolio. From modest beginnings over 40 years ago, to today, The Disciplined Discovery of Value™ shapes the cornerstone for our clients' long-term success.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220627005807/en/

Contacts

Patrick Huvane, CPA, CFA
Chief Financial Officer
(914) 457-1074

For further information, please visit: www.tetonadv.com

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