LOS ANGELES, CA and NEWARK, NJ – March 13, 2024: IDW Media Holdings, Inc., (the “Company” or “IDW”) (OTCQB: IDWM), an integrated media company, announced today a change in control. Davidi Jonas, the Company’s Chief Executive Officer, through a series of transactions acquired additional shares of Class B and Class C common stock and holds shares representing approximately 59.4% of the voting rights of all outstanding shares of capital stock of the Company.
On March 8, 2024, Davidi Jonas entered into a stock purchase agreement with eight trusts for the benefit of Mr. Jonas’ siblings, pursuant to which Mr. Jonas purchased an aggregate of 545,360 shares of Class C Common Stock, par value $0.01 per share, of the Company at a purchase price of $0.406 per share, for a total purchase price of $221,416.16.
Also on March 8, 2024, Davidi Jonas entered into a stock purchase agreement with the HSJ 2019 Remainder Trust, pursuant to which Mr. Jonas purchased 389,457 shares of Class B Common Stock, par value $0.01 per share, of the Company at a purchase price of $0.406 per share, for a total purchase price of $158,119.54.
The source of the funds for the aforementioned purchases is from Mr. Jonas’ direct personal holdings.
As of the date of this press release, Mr. Jonas beneficially owns approximately 4,271,269 shares of the Company, consisting of 3,725,909 shares of Class B Common Stock (of which 2,727,273 are unvested restricted shares) and 545,360 shares of Class C Common Stock. Stockholders are entitled to three votes for each share of Class C Common Stock held by them and one-tenth of one vote for each share of Class B Common Stock held by them.
Mr. Jonas’ beneficial ownership represents approximately 24% of the issued and outstanding shares, and 59.4% of the combined voting power, of the Company’s outstanding capital stock, based on 545,360 shares of Class C Common Stock and 16,978,539 shares of Class B Common Stock, issued and outstanding as of January 31, 2024.
About IDW Media Holdings:
IDW (OTCQB: IDWM) is an integrated media company providing compelling stories and characters for global audiences. Our IDW Publishing and IDW Entertainment businesses acquire and license IP for holistic franchise development across comics and graphic novels, television and other entertainment platforms and leverage established stories from our creative partners.
Company Contact:
Davidi Jonas
IDW Media Holdings, Inc.
david.jonas@idwmh.com