TETAA - Teton Advisors expects Q3 earnings AUM to decline

• Teton Advisors ( OTCQX:TETAA ) has reported preliminary Q3 revenues of $3.3M, representing a drop of 21.4% year-over-year.
• The investment manager's end-of-quarter AUM of $1.4B fell 12.5% compared to $1.6B at June 30, 2022 and 30% compared to 2B at Dec 31, 2021. The decrease for the quarter was equally caused by market declines and net outflows while the decrease for the year-to-date period was primarily driven by market declines.
• Net income was in a range of $0.3M to $0.4M compared to $0.5M for third quarter 2021. EBITDA came to $0.6M vs. $0.9M in the year-ago quarter.
• Teton ( OTCQX:TETAA ) also announced that its raised gross cash proceeds of over $5M from its recent rights offering. As of September 30, 2022, Teton’s cash, cash equivalents, and investments totaled $20.5M.
• The stock also uplisted from the Pink OTC market to OTCQX with the same ticker symbol, "TETAA."

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