Kartoon Studios Subsidiary Files for $300M IPO

Kartoon Studios, Inc. announced that its subsidiary, Kartoon Studios Acquisition Corp. (KSAC), has filed a registration statement for a proposed $300 million initial public offering (IPO). KSAC, a special purpose acquisition company, plans to offer 30,000,000 units at $10.00 per unit, with E.F. Hutton acting as the sole underwriter. The company intends to list its units on the New York Stock Exchange under the symbol "KACQ U." KSAC will be managed by members of Kartoon Studios' management team and will focus on business combination targets within the media and entertainment sectors.