Chicken Soup for the Soul Entertainment Inc. announced the closing of its $30 million initial public offering, with a total of 2.5 million shares of Class A common stock sold at $12 per share.
The Cos Cob-based company, which is a subsidiary of Chicken Soup for the Soul LLC, conducted its IPO pursuant to Reg A+ under the JOBS (Jumpstart Our Business Startups) Act, which is designed to facilitate access to capital for smaller companies.
“Reg A+ allowed us to marry ‘the crowd’ with institutional and other traditional Wall Street investors,” said Scott W. Seaton, vice chairman and chief strategy officer. “We believe this blend is one of the keys to a successful Reg A+ IPO.”
The company’s Class A common stock is approved for listing on the Nasdaq Global Market under the symbol CSSE.