CSS Entertainment (CSSE) Prices 1.875M Share Offering at $40/sh

Chicken Soup for the Soul Entertainment, Inc. (the “Company”, Nasdaq: CSSE), a leading operator of streaming advertising-supported video-on-demand (AVOD) networks, today announced the pricing of an underwritten public offering of 1,875,000 shares of its common stock at a public offering price of $40.00 per share. The gross proceeds of the offering to the Company are expected to be $75 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, the Company granted the underwriters a thirty-day option to purchase up to an additional 281,250 shares of common stock at the public offering price, less underwriting discounts and commissions.

The closing of the offering is expected to occur on or about July 7, 2021, subject to the satisfaction of customary closing conditions.

Guggenheim Securities and Needham & Company are acting as joint bookrunning managers. Northland Capital Markets, D.A. Davidson & Co., The Benchmark Company, Ladenburg Thalmann & Co. Inc., and Craig-Hallum Capital Group LLC are acting as co-managers.

The Company intends to use the net proceeds of the offering for working capital and general corporate purposes.

The securities described above are being offered by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-257057) previously filed with the Securities and Exchange Commission (“SEC”) on June 14, 2021, which registration statement was declared effective on June 24, 2021. The securities will be offered only by means of a prospectus supplement and accompanying prospectus relating to the offering that form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may also be obtained, when available, from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, New York 10017, by telephone at (212) 518-9544, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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