SRM Entertainment Signs Material Definitive Agreement
Ticker: TRON · Form: 8-K · Filed: Oct 22, 2024 · CIK: 1956744
| Field | Detail |
|---|---|
| Company | Srm Entertainment, Inc. (TRON) |
| Form Type | 8-K |
| Filed Date | Oct 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.61, $1,044,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing-update
TL;DR
SRM Ent. inked a big deal on Oct 18th, filing shows.
AI Summary
SRM Entertainment, Inc. entered into a material definitive agreement on October 18, 2024. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Nevada and its principal executive offices are located in Jupiter, Florida.
Why It Matters
This filing indicates a significant new business development for SRM Entertainment, Inc., potentially impacting its future operations and financial performance.
Risk Assessment
Risk Level: medium — The filing details a material definitive agreement, which could represent a significant change in business operations, but lacks specific details on the nature or financial implications of the agreement.
Key Players & Entities
- SRM Entertainment, Inc. (company) — Registrant
- October 18, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Jupiter, FL (location) — Address of principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by SRM Entertainment, Inc. on October 18, 2024?
The filing does not specify the nature of the material definitive agreement, only that one was entered into on October 18, 2024.
What are the key terms and financial implications of this material definitive agreement?
The filing does not provide details on the key terms or financial implications of the agreement.
Are the included financial statements and exhibits related to the material definitive agreement?
The filing states that financial statements and exhibits are included, and the report is triggered by the entry into a material definitive agreement, implying a relationship.
What is SRM Entertainment, Inc.'s primary business as indicated by its SIC code?
SRM Entertainment, Inc.'s Standard Industrial Classification (SIC) code is 3944, which corresponds to GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES).
When was SRM Entertainment, Inc. incorporated and where are its principal executive offices located?
SRM Entertainment, Inc. was incorporated in Nevada and its principal executive offices are located at 1061 E. Indiantown Rd., Ste. 110, Jupiter, FL 33477.
Filing Stats: 732 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-10-22 07:45:35
Key Financial Figures
- $0.61 — ck (the " Common Stock ") at a price of $0.61 per share, generating gross proceeds fr
- $1,044,000 — eeds from the offering of approximately $1,044,000 (the " Registered Offering "). Three SP
Filing Documents
- form8-k.htm (8-K) — 40KB
- ex5-1.htm (EX-5.1) — 10KB
- ex10-1.htm (EX-10.1) — 203KB
- ex5-1_001.jpg (GRAPHIC) — 43KB
- 0001493152-24-041883.txt ( ) — 536KB
- srm-20241018.xsd (EX-101.SCH) — 3KB
- srm-20241018_lab.xml (EX-101.LAB) — 33KB
- srm-20241018_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On October 18, 2024, and October 19, 2024, SRM Entertainment, Inc. (the " Company ") entered into four Securities Purchase Agreements (each an " SPA ") with four accredited investors (the " Investors "), for the purchase and sale in a registered direct offering of 1,711,477 shares (the " Shares ") of the Company's common stock (the " Common Stock ") at a price of $0.61 per share, generating gross proceeds from the offering of approximately $1,044,000 (the " Registered Offering "). Three SPAs, each dated as of October 18, 2024, were entered into with three investors, and one SPA, dated as of October 19, 2024, was entered into with a single investor. The Company is not utilizing a placement agent or underwriter in connection with the Registered Offering. The Shares will be offered and sold to the Investors by the Company pursuant to a prospectus supplement and accompanying prospectus, which was filed with the Securities and Exchange Commission (the " SEC "), in connection with a takedown from the Company's effective shelf registration statement on Form S-3 (File No. 333-282028), which was filed with the SEC on September 11, 2024 and subsequently declared effective on September 19, 2024 (the " Shelf Registration Statement ") . The legal opinion of Lucosky Brookman LLP relating to the legality of the issuance and sale of the Shares in the Registered Offering is attached hereto as Exhibit 5.1. The SPA contains customary representations, warranties and covenants by the Company, customary conditions to closing, indemnification obligations of the Company, other obligations of the parties and termination provisions. The foregoing descriptions of the material terms of the SPA do not purport to be complete and are qualified in their entirety by reference to the full text of the SPA, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference. Item 9.01 Fin
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SRM ENTERTAINMENT, INC. Date: October 22, 2024 By: /s/ Richard Miller Name: Richard Miller Title: Chief Executive Officer