Gaia Inc. (NASDAQ: GAIA), a leading global video streaming service, has successfully completed an underwritten public offering of 1,600,000 shares of its Class A common stock, amassing approximately $7.2 million. The shares were priced at $5.00 each, with Roth Capital Partners acting as the joint book-running manager for this offering. This financial infusion is earmarked for several strategic initiatives, notably the advancement of the company's artificial intelligence capabilities and the further development of the Gaia Community project, alongside supporting general corporate operations.
Gaia's platform is distinguished by its member-supported model, offering a vast array of conscious media across four main channels: Seeking Truth, Transformation, Alternative Healing, and Yoga. With content available in four languages and accessible in 185 countries, Gaia has established a significant global presence. The platform boasts a content library of over 10,000 titles, with more than 88% exclusive to Gaia, and approximately 75% of viewership driven by content produced or owned by the company. Accessibility is a key feature of Gaia's service, available on various platforms including Apple TV, iOS, Android, Roku, Chromecast, Amazon Prime Video, and Comcast Xfinity.
This public offering marks a pivotal moment for Gaia Inc., enabling the company to bolster its technological infrastructure and expand its offerings to foster a more engaged and growing community. The strategic allocation of the raised funds underscores Gaia's commitment to innovation and community building, setting the stage for the next phase of its development in the competitive streaming service industry.
