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BOCA RATON, June 16, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Grom Social Enterprises, Inc. (NASDAQ: GROM) (“Grom”, the “Company”) a social media platform and original content provider for children under the age of 13, today announced the pricing of an underwritten public offering of 2,409,639 units at a public offering price of $4.15 per unit for aggregate gross proceeds of approximately $10.0 million prior to deducting underwriting discounts, commissions, and other offering expenses. Each unit is comprised of one share of common stock and one warrant to purchase one share of common stock. Each warrant is exercisable for one share of common stock at an exercise price of $4.565 per share and will expire five years from issuance. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 361,445 shares of common stock and/or warrants to purchase up to 361,445 shares of common stock at the public offering price less the underwriting discounts and commissions. The offering is expected to close on or around June 21, 2021, subject to satisfaction of customary closing conditions.
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