LOS ANGELES, CA and NEWARK, NJ – June 18, 2024: IDW Media Holdings, Inc. (the “Company” or “IDW”) (OTCQB: IDWM), an integrated media company, announced today that its Board of Directors has approved an increase in the size of its previously announced non-brokered private placement offering of Class B common stock (the “Offering”). Initially, the Offering was set to raise up to $2.3 million, with the option for the Company to accept additional investments up to $3 million at its discretion. Following the successful initial round, IDW is now exercising this option to accommodate further investment.
The follow-on round of the Offering is expected to close on or about June 26, 2024. Eligible stockholders who participated in the initial round will be notified of the number of shares they may purchase in the follow-on round, based on the total number of unsubscribed shares and the number of shares each eligible stockholder purchased in the initial round.
The Company will announce the results of the follow-on round of the Offering upon its closing.
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.
Forward-Looking Statements:
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report for the fiscal year ended October 31, 2023, and subsequent reports that we have made available. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
Company Contact:
Davidi Jonas
IDW Media Holdings, Inc.