Kartoon Studios raises $7.3 mln in equity financing from institutional investor

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Kartoon Studios (NYSE:TOON) said on Monday that it has entered into a securities purchase agreement with a single institutional investor to raise about $7.3 million through a registered direct offering and concurrent private placement.
The offering includes common stock, pre-funded warrants and common warrants, with the latter exercisable six months after issuance.
Proceeds will be used for working capital and to support launches of Winnie & Friends, the Stan Lee Universe expansion, and Bitcoin Brigade.
TOON -1.49% premarket to $0.727.
Source: Press Release

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