other material
confidence high
sentiment positive
materiality 0.45
Zedge closes $7.675M private placement led by Vice Chairman Howard Jonas's Chartwell
Zedge, Inc.
- Issued 2,616,447 shares of Class B common stock and warrants to purchase 2,354,803 shares; placement completed September 25, 2026 for gross proceeds of $7,675,000.
- Chartwell Holding LLC, whose sole beneficiaries are Howard Jonas and his wife, invested $6.5M for 2,218,430 shares and warrants on 1,996,587 shares.
- Warrant exercise prices: $3.22/share for Chartwell and director Elliott Gibber; $3.28/share for the remaining purchaser; exercisable only after NYSE American stockholder approval.
- Warrant exercisability also gated by a six-month hold: March 11, 2027 for Gibber and March 25, 2027 for Chartwell and the remaining purchaser.
- Proceeds intended to accelerate growth of DataSeeds.AI and expand its team and reach; Zedge cites 20 million monthly active users. No placement agent commissions paid.