---
schema_version: "secwatch.filing_event.v1"
accession: "0001355848-24-000059"
form_type: "8-K"
ticker: "TOON"
cik: "0001355848"
company_name: "Kartoon Studios, Inc."
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T15:22:16.808691+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001355848-24-000059
- form_type: 8-K
- ticker: TOON
- cik: 0001355848
- company_name: Kartoon Studios, Inc.
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1355848/000135584824000059/0001355848-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1355848/000135584824000059/toon-20240418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001355848-24-000059
- JSON: https://secwatch.observer/filing/0001355848-24-000059.json
- Plain text: https://secwatch.observer/filing/0001355848-24-000059.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1355848/000135584824000059/0001355848-24-000059-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1355848/000135584824000059/0001355848-24-000059-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.