Srm entertainment, inc. announces pricing of its initial public offering

Jupiter, fl, aug. 14, 2023 (globe newswire) -- srm entertainment, inc. (“srm”) today 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. all of the shares are being offered by srm. the gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by srm, are expected to be $6.25 million. the shares are expected to begin trading on the nasdaq capital market on august 15, 2023, under the symbol “srm.” the offering is expected to close on august 16, 2023, subject to the satisfaction of customary closing conditions. in addition, srm has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of srm's common stock at the initial public offering price, less the underwriting discounts and commissions.
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