Srm entertainment announces closing of $5 million private placement

Winter park, florida, may 27, 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 the closing of its previously announced private investment in public equity (“pipe”) financing with an institutional investor for gross proceeds to the company of $5,000,000, before deducting placement agent fees and offering expenses. pursuant to the terms of the securities purchase agreement, the company sold an aggregate of 5,000 shares of its series a convertible preferred stock, convertible into an aggregate of 8,928,571 shares of common stock at a conversion price of $0.56 per share (not at $0.50 per share as previously reported), and warrants, each having the right to purchase one share of common stock, to acquire up to an aggregate of 8,928,571 shares of common stock, subject to beneficial ownership limitations.
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