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Grom Social Enterprises (NASDAQ: GROM) will present at the Emerging Growth Conference on July 21, 2021, at 2:30 PM ET. This interactive online event offers shareholders and the investment community a chance to engage with CEO Darren Marks and President Paul Ward. The presentation will last for 30 minutes, and attendees can ask questions during the session. If unable to attend live, an archived webcast will be available afterward. Grom is focused on providing a safe social media platform for children under 13, supporting digital citizenship through its various services.
Grom Social Enterprises (NASDAQ: GROM) announced the full exercise of an over-allotment option for an additional 361,445 shares in its public offering, raising total gross proceeds to approximately $11.5 million. The offering involved a total of 2,711,084 units sold at $4.15 each, consisting of common stock and warrants. Each warrant allows purchasing one share at $4.565, expiring in five years. EF Hutton was the book-running manager, with SEC clearance obtained on June 16, 2021.
Grom Social Enterprises, Inc. (NASDAQ: GROM) has successfully closed its public offering of 2,409,639 units at $4.15 each, generating approximately $10 million in gross proceeds. Each unit consists of one share of common stock and one warrant exercisable at $4.565 over five years. Additionally, underwriters received a 45-day option for 361,445 extra shares. The offering was registered with the SEC on June 16, 2021. Grom Social focuses on providing a safe social media platform for children under 13 and operates subsidiaries that produce original content and educational services.
Grom Social Enterprises, Inc. (NASDAQ:GROM) announced that its subsidiary, Top Draw Animation, is increasing production in response to rising demand for animated content as the entertainment industry reopens. Following a 45% increase in revenues and 58% increase in gross profits in Q1 compared to last year, Top Draw plans to utilize its unused production capacity in the second half of 2021. The company has also reinstated its animators training program to support production growth. CEO Darren Marks emphasized the potential for meaningful revenue opportunities from their growing suite of services and original content.
Grom Social Enterprises, Inc. (OTCQB: GRMM) reported a strong first quarter for 2021, showing a 45% increase in revenues to $1.87 million compared to the same period in 2020. Gross profit rose 58% to $1.07 million, while the loss from operations improved to $710,849. Despite a net loss of $2.31 million, largely due to non-cash charges, the company announced a 24.8% increase in total stockholders' equity to $10.73 million. Grom is also focused on growth through its planned acquisition of Curiosity Ink Media.
