Flash Assets Under Management Report for Period Ending August 31, 2022 and Update on the Rights Offering

GREENWICH, Conn.–(BUSINESS WIRE)–Teton Advisors, Inc. (“Teton”) (OTC PINK: TETAA) pre-announces August 31, 2022 assets under management (AUM), revenues, and cash and marketable securities and updates its rights offering progress.

Flash report: The Company’s August 31, 2022 AUM, revenues, cash and marketable securities and other highlights are as follows:

• AUM was $1.6 billion as of August 31, 2022 as compared to $2.0 billion at December 31, 2021.
• Revenues for the August 2022 monthly period are expected to be approximately $1.1 million as compared to $1.4 million for the comparative period in 2021 and as compared to $1.3 million for the July 2022 monthly period. Revenues for the year-to-date period ending August 31, 2022 are expected to be approximately $9.5 million as compared to $11.0 million for the comparative period in 2021.
• Cash and cash equivalents and marketable securities (net of broker payables) totaled approximately $15.2 million as of August 31, 2022 compared to $13.2 million as of December 31, 2021.
• Improved Morningstar ratings for the firm’s scalable SmallCap Equity Fund (WESCX) in 2022, offering investors small cap capacity and enhancing the Teton platform’s expansion potential.
• The Subscription Rights Offering period continues with an expiration of September 21, 2022. Assuming the rights offering is fully subscribed, the Company expects gross proceeds from the offering to be approximately $6.8 million. The subscription rights trade on the OTC PINK (ticker: TETAR) until five business days before expiration, or September 14, 2022.

“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 gives 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. The record date was 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. 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 includes an over-subscription privilege, 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 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 in the rights offering.

189 Mason Street ∙ Greenwich, CT 06830 Tel. (914) 457-1070 ∙ Fax (914) 921-5091 ∙

www.tetonadv.com

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.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure and analysis in this press release contain “forward-looking statements”. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

Contacts

Patrick Huvane, CPA, CFA

Chief Financial Officer

(914) 457-1074

For further information, please visit: www.tetonadv.com