Kartoon Studios issues 2.38M shares at $2.50 via warrant repricing, raises $6M gross

Kartoon Studios, Inc.

Existing warrants repriced from $23.70 to $2.50 per share.
Issued 2,376,550 common shares for gross proceeds of ~$6.0 million on June 27, 2023.
Exercising holders received new warrants to purchase up to 4,753,100 shares at $2.50.
Special Equities Group acted as agent, earning $0.4M cash fee and a warrant for 166,359 shares.
Securities issued under Regulation D exemption; not registered under Securities Act.

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