secwatch.observer — SEC 8-K summary
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Issuer:     Kartoon Studios, Inc. (TOON)
CIK:        0001355848
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001355848-24-000059
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1355848/000135584824000059/0001355848-24-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1355848/000135584824000059/toon-20240418.htm
  HTML page:      https://secwatch.observer/filing/0001355848-24-000059

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer