COS COB, CT – Chicken Soup for the Soul Entertainment Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced it has entered into definitive agreements with institutional and accredited investors for the private placement of $22.5 million of Chicken Soup for the Soul Entertainment’s common stock (the “Private Placement”).

Pursuant to the terms of the Private Placement, Chicken Soup for the Soul Entertainment has agreed to sell an aggregate total of 1,022,727 shares of common stock (the “Common Shares”) at a price of $22.00 per Common Share.

Chicken Soup for the Soul Entertainment has also agreed to file a registration statement with the SEC to register the resale of the Common Shares.

Chicken Soup for the Soul Entertainment expects to close the Private Placement on or about January 20, 2020, subject to the satisfaction of customary closing conditions.

Craig-Hallum Capital Group LLC is acting as exclusive placement agent to Chicken Soup for the Soul Entertainment.

The securities sold in the Private Placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (“SEC”) or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.