Kartoon Studios Announces Pricing Of Up To $7M Registered Direct Offering Of Up To 7M Shares And/Or Pre-Funded Warrants At $1.00/Share And $0.99/Pre-Funded Warrant
Portfolio Pulse from Benzinga Newsdesk
Kartoon Studios has announced a registered direct offering aiming to raise up to $7 million through the sale of up to 7 million shares and/or pre-funded warrants. The shares are priced at $1.00 each, while the pre-funded warrants are priced at $0.99 each.
April 18, 2024 | 1:06 pm
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Kartoon Studios' direct offering could dilute current shareholders but provides capital for growth. Shares and warrants are priced at $1.00 and $0.99.
The direct offering by Kartoon Studios is likely to have a short-term negative impact on its stock price due to the potential dilution of existing shares. However, the capital raised could be beneficial for the company's long-term growth. The pricing of shares and warrants close to each other suggests a strategic approach to attract investors while minimizing dilution effects.
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IMPORTANCE 90
RELEVANCE 100