SRM Entertainment, Inc. - Common Stock (SRM)

The entertainment licensing market is currently experiencing significant growth, driven by surging demand for branded consumer products linked to some of the world’s most iconic movies, TV shows, and franchises. According to License Global, the entertainment sector—including movies, animation, and gaming—accounted for a staggering $156.5 billion in licensed goods sold at retail in 2022. This figure underscores the vast opportunities available for companies in this space, as blockbuster films and hit TV series continue to generate excitement both on screen and through an ever-expanding range of consumer products.

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.

Jupiter Wellness (NASDAQ: JUPW), a diversified company that supports health and wellness, today announced that SRM Entertainment Inc. (NASDAQ: SRM) , currently a subsidiary of the company, announced the pricing of its initial public offering of 1,250,000 shares of its common stock at a price to the public of $5.00 per share. Gross proceeds from the offering are expected to be $6.25 million. The shares of SRM began began trading under the symbol SRM on the Nasdaq Capital Market on Aug. 15, 2023. Subject to the satisfaction of customary conditions, the offering is expected to close on Aug. 16, 2023. In addition, SRM has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of its common stock at the initial public offering price, less the underwriting discounts and commissions. “We congratulate SRM on their IPO and are pleased to see SRM better positioned to execute on their business opportunity as a publicly traded stand-alone company,” said Jupiter Wellness CEO Brian John. “Jupiter Wellness will retain approximately 4.5 million shares of SRM following the SRM IPO.”