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Kartoon Studios announces proposed $300M SPAC IPO for Kartoon Studios Acquisition Corp
TOONKartoon Studios, Inc.
Kartoon Studios, Inc. announced that its subsidiary, Kartoon Studios Acquisition Corp. (KSAC), filed a Form S-1 registration statement with the SEC for a proposed initial public offering of 30 million units at $10.00 per unit, generating gross proceeds of $300 million. The offering includes an overallotment option for up to 4.5 million additional units. KSAC intends to list its units on the New York Stock Exchange and will pursue business combination targets in the media and entertainment sector. Kartoon Studios is a global children's and family entertainment company that develops, produces, distributes, licenses, and monetizes intellectual property across multiple platforms.