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Lucosky Brookman is a leader in the representation of small and micro-cap companies. The Firm has led it clients through numerous capital raise transaction and over a dozen uplisting and initial public offering transactions.  Access the latest news about Lucosky Brookman, our clients’ business transactions and industry updates here. 

Lucosky Brookman Successfully Represents Grom Social Enterprises, Inc. in $3 Million Private Placement

Lucosky Brookman LLP congratulates its client, Grom Social Enterprises, Inc. (NASDAQ: GROM) (the “Company”), a media, technology and entertainment company dedicated to family-friendly programming, web filtering technology and safe social media for kids, for closing a private placement transaction with a single institutional investor and raising gross proceeds of approximately $3.0 million.  The Company issues 1,327,434 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase 2,323,010 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) was sold together with accompanying warrants at a combined effective purchase price of $2.26 priced at-the-market under Nasdaq rules. The pre-funded units were sold at the same price less the pre-funded warrant exercise price of $0.01. The warrants will be immediately exercisable from the date of issuance at an initial exercise price of $2.26 per share, subject to adjustments as set forth therein, and will expire five years from the date of issuance. 

Lucosky Brookman LLP acted as a counsel to the Company, while EF Hutton, division of Benchmark Investments, LLC, acted as exclusive placement agent for the offering.