NEW YORK,
Feb. 22,
2023 /PRNewswire/ -- Troika Media Group, Inc.
(Nasdaq: TRKA) ("TMG"), a consumer engagement and customer
acquisition solutions group, announces the engagement of Jefferies
LLC ("Jefferies"), a leading global, full-service investment
banking firm to optimize TMG's existing capital structure and to
explore strategic alternatives. TMG is a professional services
company that architects and builds enterprise value in consumer
brands to generate scalable performance driven revenue growth. The
Company delivers three solutions pillars: TMG
CREATES brands and experiences and
CONNECTS consumers through emerging technology products
and ecosystems to deliver PERFORMANCE based measurable
business outcomes.
Jefferies will lead the Company's efforts to
optimize the Company's balance sheet and address its legacy capital
structure, including its senior secured debt and to explore
strategic alternatives. Willkie Farr
& Gallagher LLP is the Company's legal counsel.
Sid Toama, TMG's
Chief Executive Officer, stated, "We have refined our business
model since the acquisition of Converge Direct in second quarter
2022 to take advantage of sustainably higher margin opportunities
to meaningfully improve strategic and financial results. We believe
that now is the time to explore opportunities to optimize our
capital structure and have engaged a market leader in Jefferies to
maximize our ability to deliver shareholder value. We have worked
closely with our senior secured lender over the last eight months
and recently announced an Amended and Restated Limited Waiver,
which provides us with time to explore different means to enhance
shareholder value".
No assurance can be given as to the outcome or
timing of these efforts. The Company does not intend to make any
further announcements concerning this process unless and until the
Company determines that disclosures are necessary or
appropriate.
About Troika Media Group
TMG is a consumer engagement and customer
acquisition consulting and solutions group based in New York. TMG delivers resilient brand equity,
amplifying brands through emerging technology to deliver
performance driven business growth. TMG's expertise is in Consumer
Products and Services, Entertainment and Media, Sports and Sports
Betting, Financial and Professional, Education, and eSports and
Gaming sectors. For more information, visit
www.thetmgrp.com.
About Jefferies
Jefferies is a leading global, full-service
investment banking and capital markets firm that provides advisory,
sales and trading, research and wealth and asset management
services. With more than 40 offices around the world, Jefferies
offer insights and expertise to investors, companies, and
governments.
Forward-Looking Statements
This press release may contain statements that
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, statements
about future growth and growth rates and other information
regarding future performance and strategies and appear throughout
this press release. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
or results and involve risks and uncertainties, and that actual
results, developments or events may differ materially from those in
the forward-looking statements as a result of various factors,
including financial community perceptions of the Company and its
business, operations, financial condition and the industries in
which it operates, the impact of the COVID-19 pandemic and the
factors described in the Company's filings with the Securities and
Exchange Commission, including the sections titled "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations in the Company's Annual Report on Form
10-K. The Company disclaims any obligation to update any
forward-looking statements contained herein. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which reflect management's opinions only as of the date
hereof.
Investor Relations Contact:
Jefferies Financial Group, Inc.
Jonathan Freedman
(212) 778-8913
MediaContact@Jefferies.com
Troika Media Group, Inc.
Sid Toama
Chief Executive Officer
Investorrelations@troikamedia.com
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SOURCE Troika Media Group, Inc.