SRM Entertainment, Inc. Announces Closing of Its Initial Public Offering
16 Agosto 2023 - 5:00PM
SRM Entertainment, Inc. (the “Company”) today announced the closing
of its initial public offering (the “Offering”) of 1,250,000 shares
of its common stock at an initial price to the public of $5.00 per
share. The shares began trading on the Nasdaq Capital Market on
August 15, 2023, under the symbol “SRM”.
The Company received aggregate gross proceeds of
$6.25 million from the offering, before deducting underwriting
discounts and commissions and other related expenses payable by the
Company. In addition, SRM has granted the underwriters a 45-day
option to purchase up to an additional 187,500 shares of common
stock at the initial public offering price, less the underwriting
discounts and commissions.
EF Hutton, division of Benchmark Investments,
LLC (“EF Hutton”), acted as the lead book-running manager and
Dominari Securities LLC acted as co-manager. Sichenzia Ross Ference
LLP acted as counsel to the Company and Sullivan & Worcester
LLP acted as counsel to the underwriters in connection with the
Offering.
The Offering was made pursuant to an effective
registration statement on Form S-1 (File No. 333-272250), as
amended, filed with the U.S. Securities and Exchange Commission
(the “SEC”) and effective by the SEC on August 14, 2023, and the
preliminary prospectus included therein. A final prospectus
relating to the Offering has been filed with the SEC and copies may
be obtained from EF Hutton, Attn: Syndicate Department, 590 Madison
Avenue, 39th Floor, New York, NY 10022, or via email at
syndicate@efhuttongroup.com or telephone at (212) 404-7002. In
addition, a copy of the final prospectus relating to the Offering
may be obtained via the SEC's website at www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About SRM
Entertainment, Inc.
SRM Entertainment, Inc. designs, develops and
manufactures custom toys and souvenirs for the world's largest
theme parks and entertainment venues. The Company provides
exclusive custom products that are available worldwide at venues
such as Walt Disney Parks and Resorts, Universal Studios, SeaWorld
and other attractions. Additionally, the Company recently launched
its retail product line which includes patented SMURFS Sip with Me
cups.
Caution Regarding Forward-Looking
Statements
Certain statements in this announcement are
forward-looking statements. Investors can identify these
forward-looking statements by words or phrases such as “may,”
“will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “is/are likely to,” “potential,” “continue” or
other similar expressions. These statements are subject to
uncertainties and risks including, but not limited to, the risk
factors discussed in the “Risk Factors” section of the registration
statement for the Offering filed with the SEC. Although the Company
believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and the Company cautions
investors that actual results may differ materially from the
anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the SEC. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations that arise after the date hereof,
except as may be required by law.
Media and Investor Relations
Info@SRMentertainment.com(407)-230-8100
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