Lucosky Brookman Represents SRM Entertainment in $1.7 Million Public Offering
Congratulations to SRM Entertainment, Inc. in successfully closing a $1.7 million registered direct offering.
The offering, which closed on December 5, 2024, consisted of 1,580,000 shares of common stock at $0.7385 per share and 712,133 pre-funded warrants at $0.7384 per warrant.
"This financing round represents a significant milestone for SRM Entertainment," said a company spokesperson. "The successful completion of this offering strengthens our capital position and supports our continued growth initiatives."
The net proceeds will support SRM Entertainment's strategic objectives, including:
- Funding ongoing operations and working capital requirements
- Supporting strategic capital expenditures
- Advancing business development activities
- Enhancing growth initiatives
This successful financing demonstrates SRM Entertainment's continued market presence and strategic expansion plans. The company has committed to a 60-day restriction on new share issuances and a one-year prohibition on variable rate transactions, with the company's directors and officers agreeing to a 30-day lock-up period following the closing.
Lucosky Brookman LLP represented SRM Entertainment in the offering. D. Boral Capital LLC acted as sole placement agent for the offering.