Core Viewpoint - SRM Entertainment, Inc. has successfully closed a private investment in public equity (PIPE) financing, raising gross proceeds of $5 million from an institutional investor [1][2]. Group 1: Financing Details - The company sold 5,000 shares of Series A Convertible Preferred Stock, which can be converted into approximately 8,928,571 shares of common stock at a conversion price of $0.56 per share [2]. - Each unit sold consists of one share of Series A Convertible Preferred Stock and one warrant, priced at $1,000 per unit, with the warrants exercisable at $0.65 per share for two years [2]. - The net proceeds from the offering will be used for general corporate purposes, including working capital [2]. Group 2: Company Overview - SRM Entertainment designs and manufactures licensed media-themed merchandise, including toys and souvenirs for major theme parks and entertainment venues [6]. - The company’s products are based on popular multi-billion-dollar entertainment franchises and are distributed globally at various attractions, including Walt Disney Parks and Resorts and Universal Parks and Destinations [6]. - SRM's design team has created specialty products for notable landmarks and events, including exclusive items featuring licensed characters [6].

Winter Park, Florida, May 22, 2025 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc. (Nasdaq: SRM) (“SRM” or the “Company”), a leading provider of creative and high-quality licensed media-themed merchandise, announces today that it has entered into a securities purchase agreement with an institutional investor for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds to the Company of approximately $5 million, before deducting placement agent fees and offering expen ...