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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 18, 2023
Chicken
Soup for the Soul Entertainment Inc. |
(Exact Name of Registrant as Specified in Charter) |
Delaware |
|
001-38125 |
|
81-2560811 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
132 E. Putnam Avenue, Floor 2W, Cos Cob, CT |
|
06807 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (855) 398-0443
N/A |
(Former Name or Former Address, if Changed Since Last Report) |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Ticker symbol(s) |
|
Name of each exchange on which registered |
Class A Common Stock, $0.0001 par value per share |
|
CSSE |
|
The Nasdaq Stock Market LLC |
9.75% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.0001 par value per share |
|
CSSEP |
|
The Nasdaq Stock Market LLC |
9.50% Notes due 2025 |
|
CSSEN |
|
The Nasdaq Stock Market LLC |
Redeemable warrants, each 11.494 warrants exercisable for one share of common stock at an exercise price of $132.18 per share |
|
CSSEL |
|
The Nasdaq Stock Market LLC |
Securities
registered pursuant to Section 12(g) of the Act:
Title of each class |
|
Ticker
symbol(s) |
|
Name
of each exchange on which registered |
Class Z Warrants to purchase Class A Common Stock |
|
CSSEZ |
|
OTC Markets |
On July 18, 2023, Chicken Soup for
the Soul Entertainment Inc. (the “Company”) announced the timing for the payment of its declared regular monthly dividend,
for August 2023, of $0.2031 per share of the Company’s 9.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value
$0.0001 (the “Series A Preferred Stock”). The dividend will be payable on or around August 15, 2023 to holders of record
as of July 31, 2023. The dividend will be paid in cash.
On July 18, 2023, the Company issued
a press release announcing the dividend. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and
is incorporated herein by reference.
ITEM 9.01. | FINANCIAL STATEMENT AND EXHIBITS. |
(d) Exhibits:
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 18, 2023 | CHICKEN SOUP FOR THE SOUL |
| ENTERTAINMENT INC. |
| | |
| By: | /s/ William J. Rouhana, Jr. |
| | Name: William J. Rouhana, Jr. |
| | Title: Chief Executive Officer |
Exhibit 99.1
Chicken Soup
for the Soul Entertainment Announces Timing of Regular Monthly Dividend for August for Series A Cumulative Redeemable Perpetual Preferred
Stock
COS COB, CT – July 18, 2023 –
Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE, CSSEP, CSSEL, CSSEN), one of the largest providers of premium content to value-conscious
consumers, today announced the timing for the payment of its declared regular monthly dividend of $0.2031 per share of its 9.75% Series
A Cumulative Redeemable Perpetual Preferred Stock for August 2023. The dividend will be payable on or around August 15, 2023 to holders
of record as of July 31, 2023. The dividend will be paid in cash.
About Chicken Soup for the Soul Entertainment
Chicken Soup for the Soul Entertainment (Nasdaq:
CSSE) provides premium content to value-conscious consumers. The company is one of the largest advertising-supported video-on-demand (AVOD)
companies in the US, with three flagship AVOD streaming services: Redbox, Crackle, and Chicken Soup for the Soul. In addition, the company
operates Redbox Free Live TV, a free ad-supported streaming television service (FAST), with nearly 180 FAST channels as well as a transaction
video on demand (TVOD) service, and a network of approximately 31,000 kiosks across the US for DVD rentals. To provide original and exclusive
content to its viewers, the company creates, acquires, and distributes films and TV series through its Screen Media and Chicken Soup for
the Soul TV Group subsidiaries. Chicken Soup for the Soul Entertainment is a subsidiary of Chicken Soup for the Soul, LLC, which publishes
the famous book series and produces super-premium pet food under the Chicken Soup for the Soul brand name.
Forward-Looking Statements and Available Information
This press release includes
forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are statements that are not historical
facts. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations
of management and are not predictions of actual performance. Such assumptions involve a number of known and unknown risks and uncertainties,
including but not limited to risks relating to our core strategy, operating income and margin, seasonality, liquidity, including cash
flows from operations, available funds, and access to financing sources, free cash flows, revenues, net income, profitability, stock price
volatility, future regulatory changes, price changes, ability to achieve and sustain market acceptance of our content streaming services
and other content offerings, ability to recruit and retain officers, key employees, or directors, ability to protect our intellectual
property, ability to complete and integrate into our existing operations future strategic acquisitions, ability to manage growth, ability
to pay dividends and our debt obligations, as well as evolving regulatory or other operational risks, and risks presented by changing
general market conditions impacting demand for our services. For a more complete description of these and other risks and uncertainties,
please refer to Item 1A (Risk Factors) in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with
the SEC on March 31, 2023. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially
from the results implied by the forward-looking statements contained in this press release. Information regarding the acquisition of Redbox
and related transactions is qualified by reference to the Company’s Current Reports on Form 8-K filed with the SEC on May 11, 2022
as amended May 12, 2022, June 6, 2022, August 12, 2022, November 14, 2022 and thereafter from time to time, and all exhibits filed with
respect to such reports. The forward-looking statements contained in this press release speak only as of the date hereof and the Company
expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances
on which any statement is based.
###
INVESTOR RELATIONS
Zaia Lawandow
Chicken Soup for the Soul Entertainment
Zlawandow@chickensoupforthesoul.com
MEDIA CONTACT
Peter Binazeski
Chicken Soup for the Soul Entertainment Corporate
pbinazeski@chickensoupforthesoul.com
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