CuriosityStream Announces Proposed Public Offering of Common Stock

Rhea-AI Summary

CuriosityStream (NASDAQ: CURI) announced an underwritten public offering of 6,500,000 shares of its common stock, with an option for underwriters to purchase an additional 975,000 shares. The offering, managed by BofA Securities, is dependent on market conditions, and its terms are not yet finalized. CuriosityStream plans to utilize the net proceeds for investment in program content, marketing, and general corporate purposes. A registration statement has been filed with the SEC, but it is not yet effective, restricting the sale of these securities until then.

Positive

• Offering of 6,500,000 shares could raise significant capital for investment in program content and marketing.
• Potential for an additional 975,000 shares to be purchased by underwriters enhances financial flexibility.

Negative

• Public offering could lead to shareholder dilution.
• Uncertainty in market conditions may affect the offering's completion.

CuriosityStream Inc. (NASDAQ: CURI) (“CuriosityStream”), a global factual entertainment company, announced today that it intends to offer for sale 6,500,000 shares of its common stock, par value $0.0001 per share (“Common Stock”), in an underwritten public offering. In addition, CuriosityStream expects to grant the underwriters a 30-day option to purchase an additional 975,000 shares of Common Stock. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

BofA Securities is acting as sole book-running manager for the offering and as representative of the underwriters. Needham & Company is acting as senior co-manager for the offering, and D.A. Davison & Co. and Roth Capital Partners are acting as co-managers for the offering.

CuriosityStream intends to use the net proceeds from the offering for investment in program content, marketing and general corporate purposes.

A registration statement on Form S-1 (Registration No. 333-252617) (the “Registration Statement”) relating to these securities has been filed with the Securities and Exchange Commission (“SEC”), but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time that the Registration Statement becomes effective. The offering is being made pursuant to the Registration Statement and an accompanying prospectus. Prospective investors should read the Registration Statement and accompanying prospectus, and the other documents that CuriosityStream has filed with the SEC for more complete information about CuriosityStream and the offering. A copy of the preliminary prospectus relating to these securities may be obtained, when available, by contacting BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, by telephone at (800) 299-1322 or via email at dg.prospectus_requests@bofa.com. Electronic copies of the Registration Statement and the accompanying prospectus are also available free of charge on the website of the SEC at www.sec.gov.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About CuriosityStream

Launched by media visionary John Hendricks, CuriosityStream is one of the world’s leading global factual streaming services and media companies. Its documentary series and features cover every topic from space exploration to adventure to the secret life of pets, empowering viewers of all ages to fuel their passions and explore new ones. With thousands of titles, many in Ultra HD 4K, including exclusive originals, CuriosityStream features stunning visuals and unrivaled storytelling to demystify science, nature, history, technology, society, and lifestyle. CuriosityStream programming is available worldwide to watch on TV, desktop, mobile and tablets.

Forward-Looking Statements

Certain statements made in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements regarding the proposed offering. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “predicts” or “intends” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed under “Risk Factors” in the Registration Statement and in CuriosityStream’s other SEC filings made from time to time. These risk factors are important to consider in determining future results and should be reviewed in their entirety. Forward-looking statements are based on the current belief of CuriosityStream’s management, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and CuriosityStream is not under any obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports that CuriosityStream has filed or will file from time to time with the SEC.

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FAQ

What is the purpose of CuriosityStream's stock offering?

CuriosityStream intends to use the net proceeds from the offering for investment in program content, marketing, and general corporate purposes.

How many shares is CuriosityStream offering?

CuriosityStream is offering 6,500,000 shares of its common stock, with an option for underwriters to purchase an additional 975,000 shares.

Who is managing the CuriosityStream stock offering?

BofA Securities is the sole book-running manager for the offering, with Needham & Company as senior co-manager.

When will CuriosityStream's stock offering begin?

The offering is subject to market conditions and cannot commence until the registration statement with the SEC becomes effective.

What is the stock symbol for CuriosityStream?

CuriosityStream's stock symbol is CURI, which is traded on NASDAQ.