Chicken Soup for the Soul sours on stock offering, wider Q4 loss

Chicken Soup for The Soul Entertainment

30/03/2023 22:23

** Shares in media company Chicken Soup for the Soul
Entertainment Inc  CSSE.O  down ~23% at $2.47 in extended
trading
    ** Company commences public offering of common shares; size
or terms of offering not disclosed
    ** CSSE says its parent, Chicken Soup for the Soul LLC, will
invest $3.8 mln in the offering
    ** Company expects to increase its available working capital
position by ~$20 mln
    ** Separately, CSSE's Q4 revenue more than tripled to $113.6
mln, beating expectations
    ** Company forecasts FY 2023 revenue of $500 mln, above est.
of about $499 mln
    ** Q4 net loss widens to $56.3 mln from $22.4 mln a year
earlier
    ** Up to last close, stock down ~38% YTD

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com))