SRM Entertainment (SRM) Announces Pricing of $1.7 Million Registered Direct Offering

SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company,” or “SRM”, a leading provider of creative and high-quality licensed media-themed merchandise, today announced that it entered into a securities purchase agreement with a certain institutional investor to purchase approximately $1.7 million shares of its common stock (or common stock equivalents in lieu thereof) in a registered direct offering at a purchase price of $0.7385 per share.

The gross proceeds to the Company from the registered direct offering are estimated to be approximately $1.7 million, before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or about December 6, 2024, subject to the satisfaction of customary closing conditions.

D. Boral Capital LLC is acting as exclusive placement agent for the offering.

The proposed offering of the securities described above is being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-282028) filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on September 19, 2024, and the accompanying prospectus contained therein.

The offering is being made only by means of a prospectus supplement and accompanying prospectus. The prospectus supplement describing the terms of the public offering will be filed with the SEC prior to the closing and will form a part of the effective registration statement.

Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting D. Boral Capital LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at [email protected] , or by telephone at (212) 970-5150.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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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