BEVERLY HILLS, CA--(Marketwired - October 29, 2015) - Genius Brands International, Inc. (
"The investor interest in this financing supports opportunities to enhance the numerous brands we currently have in the market, as well as to acquire opportunistic children's IP, that we regularly encounter, and capitalize on the growing industry demand for kid's content that is both entertaining and enriching," said GBI chairman and CEO, Andy Heyward.
The sale of the common stock and warrants is expected to close on or about November 3, 2015 subject to the satisfaction of customary closing conditions. Pursuant to the agreement with the investors, the company will issue to the investors approximately 4.3 million shares of common stock at a per share price of $1.00 and warrants to purchase approximately 4.3 million shares of common stock, with a term of five years from the closing date at an exercise price of $1.10 per share.
The company is required to file a registration statement with the Securities and Exchange Commission ("SEC") to register the resale of the common stock and shares underlying the warrants by the investors within 45 days. The company intends to use the net proceeds for general working capital purposes, including marketing its numerous brands currently entering the marketplace, acquisition and development of additional properties, expansion of its international licensing infrastructure and acquisition of content and marketing for the new Kid Genius channel on Comcast's (
Chardan Capital Markets LLC acted as sole placement agent for the offering.
The common stock and warrants were offered and sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation D promulgated thereunder. The common stock and warrants and the common stock issuable upon the exercise of the warrants have not been registered under the Securities Act and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
About Genius Brands International
Headquartered in Beverly Hills, California, Genius Brands International, Inc. "GBI" (
Important Cautions Regarding Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward- looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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Contact Information:
Company Contact:
Genius Brands International, Inc.
Michael Handelman, CFO
Tel 310-273-4222
Investor Relations:
Liolios Group, Inc.
Chris Tyson
Tel 949-574-3860