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Genius Brands International (NASDAQ: GNUS) has announced a securities purchase agreement to sell 8 million shares of its common stock at $0.35 per share, generating total gross proceeds of $2.8 million. The offering is expected to close on or around May 8, 2020. Funds will be allocated for working capital, production of new Rainbow Rangers episodes, and to support the launch of their digital network, Kartoon Channel!, slated for June 2020, which aims to reach over 100 million U.S. households.
Genius Brands International (NASDAQ: GNUS) announced the launch of the Kartoon Channel on June 15, 2020, merging Kid Genius Cartoon Channel and Baby Genius TV. This new channel aims to deliver over 4,000 episodes of enriching content for children aged 2-11, reaching over 100 million U.S. households and 200 million OTT users. The channel features safe, curated programming, including Warren Buffett’s Secret Millionaires Club and Thomas Edison’s Secret Lab. Genius Brands has partnered with Dooya TV to enhance ad sales and distribution across various platforms.
Genius Brands (NASDAQ: GNUS) has partnered with Mattel to launch a new toy line based on the popular preschool show Rainbow Rangers at Walmart stores. This new product range includes characters like Rosie Redd and Mandarin Orange, emphasizing themes of empowerment and diversity. With prices ranging from $1.50 to $109.99, the toys aim to provide value to young fans. CEO Andy Heyward noted the growth potential in kids' entertainment during these times and highlighted ongoing partnerships for expanding the brand’s consumer products.