SRM Entertainment (NASDAQ: SRM), a company that designs, develops and manufactures custom toys and souvenirs for the world’s largest theme parks and entertainment venues, has closed on its initial public offering. The offering was comprised of 1,250,000 shares of its common stock that were offered to the public at an initial price of $5 per share. According to the announcement, SRM shares began trading on the NASDAQ Capital Market on Aug. 15, 2023. The offering resulting in gross proceeds of $6.25 million, before standard underwriting discounts and commissions and other related expenses are deducted. The announcement also noted that the company has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of common stock at the same public offering price, minus underwriting discounts and commissions.
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About SRM Entertainment Inc.
SRM Entertainment designs, develops and manufactures custom toys and souvenirs for the world’s largest theme parks and entertainment venues. The company provides exclusive custom products that are available worldwide at venues such as Walt Disney Parks and Resorts, Universal Studios, SeaWorld and other attractions. The company also recently launched its retail product line, which includes patented SMURFS Sip with Me cups. For additional information about this company, please visit www.SRMEntertainment.com.
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