Kartoon Studios Launches Structured Share and Warrant Sale

The latest update is out from Kartoon Studios (TOON).

Kartoon Studios, Inc. has initiated a sale of up to 7 million shares and pre-funded warrants in a structured offering to institutional investors, with an initial sale of 4 million units and the possibility of three additional sales within 180 days. The shares and warrants are being sold separately but as a combined purchase in this offering, with shares priced at $1.00 each and warrants at $0.99. The company also engaged EF Hutton LLC as the placement agent to facilitate the sale, agreeing to pay them fees and reimburse expenses. This move aims to secure funding under conditions detailed in their agreements, while temporarily preventing further issuance of similar securities.

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