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.
