Lucosky Brookman Congratulates SRM Entertainment, Inc. on Successful IPO and Spinoff
Lucosky Brookman LLP, is delighted to extend its heartfelt congratulations to SRM Entertainment, Inc. on the successful pricing of its initial public offering (IPO) and simultaneous spinoff. Lucosky Brookman played a pivotal role as Special Nasdaq Counsel, contributing to the successful completion of the transaction.
SRM Entertainment, Inc. ("SRM"), a forward-looking entertainment company, issued 1,250,000 shares of its common stock at a public offering price of $5.00 per share. All the shares within the offering are being issued by SRM, culminating in anticipated gross proceeds of $6.25 million before factoring in underwriting discounts, commissions, and other associated offering expenses payable by SRM.
The shares commenced trading on The Nasdaq Capital Market under the symbol "SRM". As an additional facet of the offering, SRM has extended a 45-day option to the underwriters, enabling them to purchase up to an additional 187,500 shares of SRM's common stock at the initial public offering price, with underwriting discounts and commissions applied.
The successful execution of this transaction is emblematic of the synergy between SRM Entertainment, Inc. and its financial partners.
EF Hutton, a division of Benchmark Investments, LLC, serves as the lead book-running manager, while Dominari Securities LLC operates as the co-manager. Their collective efforts have not only streamlined the IPO process but also ensured that SRM's vision is realized on the grand stage of The Nasdaq Capital Market.