Chicken Soup for the Soul Entertainment, Inc., a provider of video content, has launched its Reg A+ equity crowdfunding round seeking to raise up to $30 million in an “mini-IPO.” Chicken Soup stated today it intended to trade on the NASDAQ under the symbol “CSSE” following a successful round.
“Our customers and fans are passionate about our brand,” commented William J. Rouhana, Jr., Chairman and CEO of Chicken Soup for the Soul Entertainment. “Going public affords our loyal fans and others the opportunity to participate in the growth of our video content business.”
The company stated that HCFP/Capital Markets LLC, The Benchmark Company, LLC and Weild & Co. are acting as joint book running managers for the offering. The Offering Circular for the offer is available here. The filing with the SEC was recently qualified and approved.
Chicken Soup is listing the offer on its own web site with the assistance of Folio Investing. Chicken Soup is selling up to 900,000 shares at a per share offer price of $12 each. The investment offer is open to both accredited and non accredited investors. Chicken Soup was in the news last month as it signed an agreement with Ashton Kutcher to serve as an executive producer for two new television series.
Several small companies have recently utilized Reg A+ to raise growth capital and then followed the crowdfunding round with a public listing on an exchange. Some industry followers believe that Reg A+ stands a good chance of revitalizing the currently moribund IPO market with its scaled disclosure requirements and ability to generally solicit to all investors – not just institutional or high net worth individuals.
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