Genius Brands International Chairman and CEO Andy Heyward Purchases 1,000,000 Common Shares at $0.76 Per Share in a Private Placement
Genius Brands International, Inc. (GNUS)
NASDAQ:AMEX Investor Relations:
gnusbrands.com/investor-relations
Company Research
Source: GlobeNewswire
BEVERLY HILLS, Calif., Oct. 03, 2019 (GLOBE NEWSWIRE) -- Genius Brands International, Inc. (“Genius Brands” or the “Company”) (Nasdaq: GNUS), a global brand management company that creates and licenses multimedia entertainment content for children, today announced that it completed a $760,000 private placement through the issuance of 1 million common shares at a price per share of $0.76 to Andy Heyward, Chairman and CEO of Genius Brands. In addition, in September 2019, the Company received approximately $719,000 in gross proceeds from the cash exercise of 945,894 warrants held by an existing investor. Pursuant to an Agreement entered into between Genius and the investor, the investor agreed to immediately exercise all of the warrants for cash at an exercise price of $0.76. Mr. Heyward also purchased $500,000 of the Company’s August 2018 10% Secured Convertible Notes (“Notes”) from a Noteholder. The Company is currently in good standing with all the Note holders and has succes
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