Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, August 14, 9:46 PM
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Slide #152. Chicken Soup for the Soul Entertainment, Inc. — Preferred Stock Offering
Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:CSSE)
Date of Pricing:
Price Per Share:
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 company. Crackle Plus, LLC (Crackle Plus), a subsidiary of Co., is comprised of streaming services, each delivering content focused on specific themes such as drama, comedy, horror, paranormal, documentaries, and sports. Through its Chicken Soup for the Soul streaming service, Co. provides lifestyle, family and kids content. Co.'s Crackle Plus portfolio of streaming services are branded and includes Crackle, Chicken Soup for the Soul, Truli, Espanolflix and FrightPix. Co.'s Screen Media Ventures, LLC subsidiary manages one of its owned television and film libraries consisting of various films and television episodes.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 93% of all stocks covered)
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