Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Wed, January 19, 2:47 AM
|This Slide: #148 of 578|
Slide #148. Chicken Soup for the Soul Entertainment, Inc. — Preferred Stock Offering
Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:CSSE)
Date of Pricing:
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Preferred Stock Offering Details:
Chicken Soup for the Soul Entertainment, Inc. ("CSS Entertainment") (Nasdaq:CSSE), a growing media company building online video on-demand ("VOD") networks that provide positive and entertaining video content for all screens, today announced that its Registration Statement on Form S-1 (SEC File No. 333-225603) was declared effective by the Securities and Exchange Commission. The closing of the offering of 600,000 shares of CSS Entertainment's Series A Cumulative Redeemable Perpetual Preferred Stock ("Series A Preferred Stock") is expected to occur on or about June 29, 2018. Each share of Series A Preferred Stock will be sold at a public offering price of $25.00. The shares are expected to be traded on Nasdaq under the symbol "CSSEP." The shares will not be convertible into or exchangeable for any of the company's other securities. CSS Entertainment expects the offering will result in gross proceeds of approximately $15 million. The underwriters have been granted a 30-day option to purchase up to 90,000 additional shares of Series A Preferred Stock from the Company, exercisable in whole or in part, solely to cover over-allotments, at the public offering price less the underwriting discount.
Chicken Soup for the Soul Entertainment is a streaming video-on-demand (VOD) company. Co.'s subsidiary, Crackle Plus, LLC (Crackle Plus), operates a portfolio of ad-supported and subscription-based VOD networks. Co.'s another subsidiary, Screen Media Ventures, LLC, acquires and distributes content, and a number of affiliates that produce and co-produce original content. Chicken Soup for the Soul's various television production activities are done through a number of affiliates including Landmark Studio Group, Chicken Soup for the Soul Originals, and APlus.com, which produce or co-produce original content for Crackle Plus and, occasionally, for other third-party networks.
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Strong Buy (3.89 out of 4)
(ranked higher than approx. 71% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com