Kartoon Studios raises up to $7M in direct offering at $1.00/share

Kartoon Studios, Inc.

Initial closing of $4M in common stock; up to $3M in additional closings within 180 days.
Pre-funded warrants offered at $0.99 with $0.01 exercise price, subject to 4.99% beneficial ownership limit.
EF Hutton LLC serves as placement agent with 7% cash fee plus 1% non-accountable expense reimbursement.
Company agrees to 90-day lock-up on additional equity issuances (180 days under placement agreement).
Proceeds expected for general corporate purposes, not specifically stated.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Kartoon Studios, Inc. entered into Placement Agreement with EF Hutton LLC (effective 2024-04-18).

Action: entry
Agreement: underwriting
Counterparty: EF Hutton LLC
Effective: 2024-04-18

Exact text from the filing

On April 18, 2024, the Company also entered into a placement agent agreement (the “Placement Agreement”) with EF Hutton LLC, as the placement agent (the “Placement Agent”), in connection with the Offering.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Kartoon Studios, Inc. entered into Purchase Agreement with certain institutional investors (effective 2024-04-18).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Effective: 2024-04-18

Exact text from the filing

On April 18, 2024, Kartoon Studios, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) pursuant to which the Company agreed to issue and sell directly to certain institutional investors up to 7,000,000 shares (the “Shares”) of common stock

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308 material agreements filed in the last 30 days. Browse all material agreements →

Kartoon Studios, Inc. filing history →

Source: SEC EDGAR

accession 0001355848-24-000059

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