Teton Advisors, Inc. (“Teton”) (OTC PINK: TETAA) announces that it has amended its Subscription Rights Offering Circular with the record date set for June 3, 2022 and with the subscription rights period extending through September 21, 2022. Teton is also updating the rights offering information it previously provided in its April 6 press release.

“Our commitment is to earn a return for our clients utilizing our value based methodologies. As such, this rights offering helps strengthen the platform as our team delivers on its mission for clients’ portfolios. We are excited to strengthen the next stage of the Teton and Keeley funds’ legacy of excellence in smaller company investing. Small Caps today sell at the widest discount relative to Large Caps in 35 years. Our integrated approach is expected to drive long term client value,” said Patrick Huvane, the Company’s Chief Financial Officer.

The rights offering will give Teton stockholders 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 and record date of June 3, 2022. 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 will include 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 Class A common stock issued in connection with the rights offering will be listed on the over-the-counter market (OTC). The subscription rights are also expected to trade on the OTC until five business days before September 21, 2022; the expiration date of the subscription period.

The Company reserves the right to modify, postpone or cancel the rights offering at any time prior to the closing of the issuance of the Class A common stock and Class B common stock in the rights offering.

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.

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