Troika Media Group, Inc Retains Leading Investment Banking Firm Jefferies LLC to Optimize its Capital Structure and Explore Strategic Alternatives

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Feb 22, 2023, 07:50 ET

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
[email protected]

Troika Media Group, Inc.
Sid Toama
Chief Executive Officer
[email protected]

SOURCE Troika Media Group, Inc.