CSS Entertainment (CSSE) Prices $10.4M Notes Offering

Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE) today announced the pricing of its underwritten public offering of an aggregate principal amount of $10,400,000 9.5% Notes due 2025 (“Notes”). In addition, the Company has granted the underwriters a 30-day option to purchase additional Notes having an aggregate principal amount of up to $1,560,000 to cover overallotments, if any. The Notes will be issued in minimum denominations of $25.00 and integral multiples of $25.00. The offering is expected to close on or about April 22, 2022. This is a follow-on offering to the Notes issued by the Company in December 2020. The Notes trade on Nasdaq under the symbol “CSSEN”. The Notes will not be convertible into or exchangeable for any of the Company’s other securities. Interest payments will be made quarterly in arrears on March 31, June 30, September 30, and December 31 each year, beginning June 30, 2022. The Company can redeem the Notes, in whole or in part, at any time on or after July 31, 2022 or upon a change of control at the redemption price of par plus accrued interest.

Net proceeds to the Company, after underwriting discounts and expenses, but without giving effect to any exercise of the underwriter’s option, is estimated to be $9,537,344 and will be used as described in the final prospectus.

Ladenburg Thalmann & Co. Inc. and B. Riley Securities Inc. are acting as joint book-running managers of the offering.

The offering is being made pursuant to a registration statement on form S-1 (SEC File No. 333-237057) (“Registration Statement”) declared effective by the Securities and Exchange Commission on June 24, 2021 and the prospectus supplement hereto that will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement may be obtained electronically from the Securities and Exchange Commission at www.sec.gov or from any of the underwriters, including the offices of:

Ladenburg Thalmann & Co.
Attn: Syndicate Department
640 5^th Avenue, 4^th Floor
New York, NY 10019
212-409-2000
Email: [email protected]

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.

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