COS COB, Conn., Aug. 17, 2017 (GLOBE NEWSWIRE) -- Chicken Soup for the Soul Entertainment, Inc., a fast-growing provider of positive and entertaining video content, today announced the closing of its $30 million Reg A+ IPO.
To accommodate demand, CSS Entertainment exercised its option to increase the number of shares of Class A common stock to the maximum number of shares included in its offering circular.
A total of 2,500,000 shares of Class A common stock were sold at $12 per share.
“Investor demand for our IPO was extraordinary,” said William J. Rouhana, Jr., chairman and chief executive officer of CSS Entertainment. “Social media played a critical role in driving demand. While we anticipated that the combination of social media and our well-recognized brand would generate significant awareness, the number of prospective investors interested in our IPO exceeded even our expectations.”
The IPO was made pursuant to Reg A+ under the JOBS Act, which is designed to facilitate access to capital for smaller companies.
Scott W. Seaton, vice chairman and chief strategy officer of CSS Entertainment, stated, “Reg A+ allowed us to marry ‘the crowd’ with institutional and other traditional Wall Street investors. We believe this blend is one of the keys to a successful Reg A+ IPO.”
HCFP/Capital Markets LLC, The Benchmark Company LLC and Weild & Co. acted as joint bookrunning managers for the offering.
The company’s Class A Common Stock is approved for listing on the Nasdaq Global Market under the symbol “CSSE.”
Greenberg Traurig served as underwriters’ counsel and Graubard Miller served as company counsel.
Rooney Partners LLC was the digital media and public relations agency of record. LHA Investor Relations is advisor to the company.
ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT
Chicken Soup for the Soul Entertainment, Inc. is a fast-growing provider of positive and entertaining video content that brings out the best of the human spirit. The Company is aggressively growing its business through a combination of organic growth, licensing and distribution arrangements, acquisitions, and strategic relationships. Chicken Soup for the Soul Entertainment is also expanding its partnerships with sponsors, television networks and independent producers. The Company will make its video content available to consumers globally through television and online networks, including its online affiliate APlus.com. The company is a subsidiary of Chicken Soup for the Soul, LLC.
