secwatch.observer — SEC 8-K summary
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Issuer:     Kartoon Studios, Inc. (TOON)
CIK:        0001355848
Form:       8-K
Filed at:   2022-04-12T23:59:59+00:00
Accession:  0001683168-22-002514
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genius Brands closes Wow acquisition; combined 2021 revenue ~$72M; Hirsh to board
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- Acquired Wow for ~CDN $47.7M cash + 10.4M Genius shares + 691k exchangeable shares exchangeable 1:1 into GNUS.
- Wow 2021 revenue $64.2M USD, net income $2.8M, EBITDA $6.3M; Genius standalone revenue $7.9M (217% YoY).
- Michael Hirsh (Wow CEO) to join Genius Brands board; Wow's Mainframe Studios and Frederator Network added.
- Series B Preferred Stock created to pass voting rights to Exchangeco shareholders; automatically cancels if no votes.
- Wow estimates significant contracted bookings through 2022-2023; cost synergies expected from in-house animation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1355848/000168316822002514/0001683168-22-002514-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1355848/000168316822002514/genius_i8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-002514

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