SRM Entertainment, Inc. announced on May 27, 2025, the closing of its previously announced private investment in public equity (PIPE) financing. The company secured gross proceeds of $5,000,000 from an institutional investor.
Under the terms of the securities purchase agreement, SRM sold 5,000 shares of its Series A Convertible Preferred Stock, convertible into an aggregate of 8,928,571 shares of common stock at a conversion price of $0.56 per share. Additionally, warrants to acquire up to 8,928,571 shares of common stock were issued, exercisable immediately at $0.65 per share and expiring in two years.
The company intends to use the net proceeds from this offering for general corporate purposes, including working capital. Dominari Securities LLC acted as the sole placement agent for the PIPE financing, which provides necessary capital to fund ongoing operations and planned expansion initiatives.
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