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Genius Brands to sell $4.3m in stock

Children’s content group Genius Brands International will sell around US$4.3 million of its common stock and warrants.

The firm has agreed a private placement with institutional investors and company management had been released, with the sale expected to close on November 3.

This will comprise issuing investors 4.3 million shares at a US$1 per share price.

GBI raised US$6 million last year through a share placement.

This came after Heyward’s A Squared Entertainment merged with Genius late in 2013.

“The investor interest in this financing supports opportunities to enhance the numerous brands we currently have in the market, as well as to acquire opportunistic children’s IP, that we regularly encounter, and capitalise on the growing industry demand for kid’s content that is both entertaining and enriching,” said GBI chairman and CEO, Andy Heyward.