Form 8-K/A - Current report: [Amend]
June 12 2024 - 5:07PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Amendment No. 1
to
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 29, 2024
Chicken
Soup for the Soul Entertainment Inc. |
(Exact Name of Registrant as Specified in Charter) |
Delaware |
|
001-38125 |
|
81-2560811 |
(State or Other Jurisdiction
of
Incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification
No.) |
132 E. Putnam Avenue, Floor 2W, Cos Cob, CT |
|
06807 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (855) 398-0443
N/A |
(Former Name or Former Address, if Changed Since Last Report) |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading symbol(s) |
|
Name
of each exchange on which registered |
Class A Common Stock, $0.0001 par value per share |
|
CSSE |
|
The Nasdaq Stock Market LLC |
9.75% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.0001 par value per share |
|
CSSEP |
|
The Nasdaq Stock Market LLC |
9.50% Notes due 2025 |
|
CSSEN |
|
The Nasdaq Stock Market LLC |
Redeemable warrants, each 11.494 warrants exercisable for one share of common stock at an exercise price of $132.18 per share |
|
CSSEL |
|
The Nasdaq Stock Market LLC |
Securities
registered pursuant to Section 12(g) of the Act:
Title of each class |
|
Ticker
symbol(s) |
|
Name
of each exchange on which registered |
Class Z Warrants to purchase Class A Common Stock |
|
CSSEZ |
|
OTC Markets |
Item 1.01 |
Entry into a Material Definitive Agreement. |
As reported in the Current Report on Form 8-K filed with the Securities
and Exchange Commission on May 3, 2024 by Chicken Soup for the Soul Entertainment, Inc. (the “Company”), on April 29,
2024, the Company entered into an agreement that allowed it to raise $175 million of additional working capital prior to June 6, 2024
from two financing parties and to make a $75 million loan prepayment under its principal credit facility.
Redbox Automated Retail, LLC (“Redbox Borrower”,
and together with the Company, the “Borrowers”), the other guarantors listed on the signature pages thereto (the “Guarantors”,
and together with the Borrowers, the “Loan Parties”) entered into an Agreement (the “Agreement”)
with the Lenders to the Credit Agreement (as defined below) listed on the signature pages thereto and HPS Investment Partners, LLC, in
its capacity as administrative agent and collateral agent (in such capacities, the “Agent”) under the amended and restated
credit agreement, dated as of August 11, 2022, among the Borrowers, the Lenders and the Agent, as amended, restated, supplemented or otherwise
modified by that certain first amendment, dated as of April 29, 2024 (as the same may be amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”).
As previously reported, pursuant to the terms of the Agreement, the
Company intended to consummate certain strategic transactions for which it has signed term sheets that have been reviewed with the Lenders,
including the sublicensing of material video content assets and one or more sales leaseback transactions with targeted aggregate gross
proceeds of at least $175 million. If the Company was able to successfully consummate these transactions in their entirety, it was obligated
to utilize $75 million of the net proceeds thereof prior to June 6, 2024 to pay down amounts owed under the Credit Agreement (the “Initial
Paydown”). Until at least June 6, 2024 (the period beginning on April 29, 2024 and ending on such date, as it may be extended,
the “Initial Period”) the Agent agreed to forbear from acting on any events of default existing as of the commencement
of the Initial Period as well as certain prescribed defaults that may arise during the Initial Period (as same may be extended as described
below).
On
June 6, 2024, the Agent agreed to extend the Initial Period until the close of business (5:00 pm NY
time) on Friday, June7, 2024, and thereafter agreed to additional extensions through the close
of business on Monday, June 10, 2024 and Tuesday, June 11, 2024. These extensions have expired.
Item 9.01 |
Financial Statements and Exhibits |
*Previously filed with the Current Report on Form 8-K
filed on May 3, 2024.
SIGNATURE
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.
Dated: June 12, 2024 |
CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC. |
|
|
|
|
By: |
/s/ William J. Rouhana, Jr. |
|
|
William J. Rouhana, Jr. |
|
|
Chairman and Chief Executive Officer |
v3.24.1.1.u2
Cover
|
Apr. 29, 2024 |
Document Information [Line Items] |
|
Document Type |
8-K/A
|
Amendment Flag |
false
|
Document Period End Date |
Apr. 29, 2024
|
Entity File Number |
001-38125
|
Entity Registrant Name |
Chicken
Soup for the Soul Entertainment Inc.
|
Entity Central Index Key |
0001679063
|
Entity Tax Identification Number |
81-2560811
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
132 E. Putnam Avenue
|
Entity Address, Address Line Two |
Floor 2W
|
Entity Address, City or Town |
Cos Cob
|
Entity Address, State or Province |
CT
|
Entity Address, Postal Zip Code |
06807
|
City Area Code |
855
|
Local Phone Number |
398-0443
|
Written Communications |
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Soliciting Material |
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Pre-commencement Tender Offer |
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Trading Symbol |
CSSEZ
|
Title of 12(g) Security |
Class Z Warrants to purchase Class A Common Stock
|
Entity Emerging Growth Company |
false
|
Common Stock [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Class A Common Stock, $0.0001 par value per share
|
Trading Symbol |
CSSE
|
Security Exchange Name |
NASDAQ
|
Preferred Stock [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
9.75% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.0001 par value per share
|
Trading Symbol |
CSSEP
|
Security Exchange Name |
NASDAQ
|
Notes [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
9.50% Notes due 2025
|
Trading Symbol |
CSSEN
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants [Member] |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Redeemable warrants, each 11.494 warrants exercisable for one share of common stock at an exercise price of $132.18 per share
|
Trading Symbol |
CSSEL
|
Security Exchange Name |
NASDAQ
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