Jupiter Wellness to spin off SRM Entertainment via exchange for 6.5M shares and IPO plan

BONK, INC.

Jupiter Wellness will exchange all SRM Entertainment LTD shares for 6,500,000 shares of SRM Entertainment, Inc. (approx. 80% ownership).
Plans to spin off 2,000,000 of those shares to JUPW stockholders and certain July 2021 warrant holders.
The transaction is contingent on the effectiveness of SRM's initial public offering (IPO) and listing on Nasdaq.
If the SRM IPO is not consummated, the agreement will not become effective and SRM will remain a subsidiary.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BONK, INC. amended Amended and Restated Exchange Agreement with SRM Entertainment, Inc. (effective 2023-05-26).

Action: amendment
Counterparty: SRM Entertainment, Inc.
Effective: 2023-05-26

Exact text from the filing

On May 20, 2023, Jupiter Wellness, Inc. (the “Company”) entered into an Amended and Restated Exchange Agreement (the “Agreement”) with SRM Entertainment, Inc. , a Nevada company (“SRM”) whereby the Company agreed to exchange all of the capital stock of SRM Entertainment LTD, a Hong Kong Special administrative Region of the People’s Republic of China limited company (“SRM LTD”), which company currently operates the Company’s business section that creates and sells innovative products for the toy and entertainment industries in exchange for 6,500,000 shares of SRM.

View on SEC.gov

Browse all material agreements →

BONK, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-019966

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.