By Chris Wack
Chicken Soup for the Soul Entertainment Inc. shares climbed 14% to $8.58 Wednesday after the company said it priced an underwritten public offering of $10.4 million of 9.5% notes due 2025.
The company granted the underwriters a 30-day option to purchase additional notes worth up to about $1.6 million to cover overallotments, if any.
The notes will be issued in minimum denominations of $25 and integral multiples of $25, the company said. The offering is expected to close on or about Friday.
The notes won't be convertible into or exchangeable for any of the company's other securities. The company can redeem the notes, in whole or in part, at any time on or after July 31, or upon a change of control at the redemption price of par plus accrued interest.
Chicken Soup said it expects to see proceeds of $9.5 million, after underwriting discounts and expenses.
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(END) Dow Jones Newswires
April 20, 2022 12:53 ET (16:53 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.