arena group holdings incs shares were under pressure early friday after the media company priced a roughly 30 million equity raising in morning trading the stock was 10 lower at 825 extending the yeartodate drop to 41 arena which was previously known as themaven inc said it priced a public offering of about 36 million shares at 825 each the underwriters have a 30day option to buy up to 545454 additional shares late last month the company said it would sell shares as part the move of its listing to the nyse american and a planned 1for22 reverse stock split