Chicken Soup for the Soul Entertainment, Inc. acquired A Sharp Inc. from Chicken Soup for the Soul Digital, LLC, Christopher Kutcher, Evan Beard and Kendall Dabaghi for $15 million.
January 02, 2019
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Chicken Soup for the Soul Entertainment, Inc. (NasdaqGM:CSSE) acquired A Sharp Inc. from Chicken Soup for the Soul Digital, LLC, Christopher Kutcher, Evan Beard and Kendall Dabaghi for $15 million on December 28, 2018. Pursuant to the terms of the stock purchase agreement, Chicken Soup for the Soul Entertainment issued 0.322 million Class A common stock to Christopher Kutcher, 0.014 million to Beard, 0.014 million to Dabaghi and the balance remaining in cash to CSS. Post-acquisition, A Sharp became a wholly owned subsidiary of the Chicken Soup for the Soul Entertainment. The transaction was reviewed by the audit committee of the Board of Directors of CSSE, which recommended the acquisition to CSSE's board of directors. CSSE's board of directors unanimously approved the transaction. The transaction is expected to have a material positive impact on Chicken Soup for the Soul Entertainment, Inc.’s consolidated financial position, results of operations and cash flows.
Chicken Soup for the Soul Entertainment, Inc. (NasdaqGM:CSSE) completed the acquisition of A Sharp Inc. from Chicken Soup for the Soul Digital, LLC, Christopher Kutcher, Evan Beard and Kendall Dabaghi on December 28, 2018.
Chicken Soup for the Soul Entertainment Inc. is an advertising-supported video-on-demand (AVOD) company. The Company's three flagship AVOD streaming services include Redbox, Crackle, and Chicken Soup for the Soul. The Company operates Redbox Free Live TV, a free ad-supported streaming television service (FAST), with approximately 170 channels as well as a transaction video on demand (TVOD) service, and a network of approximately 27,800 kiosks across the United States for digital video disc (DVD) rentals. The Company creates, acquires, and distributes films and television (TV) series. The AVOD services boast approximately 40 million monthly active users and are distributed through every major distribution platform including Roku, Amazon Fire TV, Samsung, Vizio, Xbox, PlayStation and many more. The Company's Crackle is known for original and acquired content that delivers audiences of scale across a demographic spectrum.
Chicken Soup for the Soul Entertainment, Inc. acquired A Sharp Inc. from Chicken Soup for the Soul Digital, LLC, Christopher Kutcher, Evan Beard and Kendall Dabaghi for $15 million.