Brief: Chicken Soup For The Soul Entertainment To Acquire Redbox

Chicken Soup for The Soul Entertainment

11/05/2022 12:56

May 11 (Reuters) - Chicken Soup for The Soul Entertainment
Inc  CSSE.O :
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT TO ACQUIRE REDBOX,
CREATING PREMIER INDEPENDENT ENTERTAINMENT COMPANY
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT TO ACQUIRE REDBOX,
CREATING PREMIER INDEPENDENT ENTERTAINMENT COMPANY
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - COMBINATION
IS
EXPECTED TO BE ACCRETIVE TO ADJUSTED EBITDA IN 2023
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - EXPECTS TO
DELIVER
ANNUAL-RUN RATE COST SYNERGIES IN EXCESS OF $40 MILLION IN 2023
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - CHICKEN SOUP
FOR
SOUL ENTERTAINMENT STOCKHOLDERS WILL OWN APPROXIMATELY 76.5% OF
COMBINED COMPANY
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT - REDBOX
STOCKHOLDERS
WILL RECEIVE A FIXED EXCHANGE RATIO OF 0.087 OF A SHARE OF CLASS
A COMMON STOCK OF CO PER REDBOX SHARE
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - REDBOX
STOCKHOLDERS WILL OWN APPROXIMATELY 23.5% OF COMBINED COMPANY,
ON A FULLY DILUTED BASIS
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - EXPECTS
COMBINED
COMPANY WILL EXIT 2022 WITH A RUN-RATE EXCEEDING $500 MILLION OF
REVENUE
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT - COMBINED ENTITY
WILL
RETAIN NAME CHICKEN SOUP FOR SOUL ENTERTAINMENT
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - COMPANY
EXPECTS TO
DELIVER ANNUAL-RUN RATE COST SYNERGIES IN EXCESS OF $40 MILLION
IN 2023
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - COMBINED
ENTITY
WILL CONTINUE TO TRADE UNDER TICKER SYMBOL "CSSE" ON NASDAQ
STOCK EXCHANGE
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - EXPECTS THAT
COMBINED CO WILL EXIT 2022 WITH RUN-RATE EXCEEDING $500 MILLION
OF REVENUE
    * CHICKEN SOUP FOR THE SOUL - REDBOX STOCKHOLDERS TO GET A
FIXED
EXCHANGE RATIO OF 0.087 OF A SHARE OF CLASS A COMMON STOCK OF CO
PER REDBOX SHARE
    * CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - FOLLOWING
CLOSE,
CO'S STOCKHOLDERS WILL OWN APPROXIMATELY 76.5% OF COMBINED
COMPANY

Source text for Eikon:  ID:nGNX4lfzKw 
Further company coverage:  CSSE.O 

 ((Reuters.Briefs@thomsonreuters.com;))