Welcome to our dedicated page for Grom Social Enterprises news (Ticker: GROMW), a resource for investors and traders seeking the latest updates and insights on Grom Social Enterprises stock.
Grom Social Enterprises Inc. (NASDAQ: GROM) operates at the intersection of child safety and digital innovation, providing a COPPA-compliant social platform and family-friendly entertainment solutions. This page serves as the definitive source for official updates about the company’s strategic initiatives across its animation, education technology, and gaming divisions.
Investors and industry observers will find verified press releases detailing earnings reports, content partnerships (including Curiosity Ink Media collaborations), acquisitions like Arctic7’s gaming ventures, and advancements in parental control technologies. All updates are sourced directly from corporate communications to ensure accuracy.
Key areas covered include developments in Top Draw Animation productions, web filtering solutions for schools, and expansions of the Grom Social app’s augmented reality features. The curated news feed enables efficient tracking of the company’s growth in niche markets while maintaining focus on its core mission: safe digital experiences for children under 13.
Bookmark this page for real-time insights into how GROMW navigates the evolving landscape of children’s media, balancing creative content production with rigorous adherence to data privacy standards.
Grom Social Enterprises, Inc. (NASDAQ:GROM) has successfully closed a private placement, raising $4.4 million through a 10% Original Issue Discount convertible note with an 18-month maturity. The principal amount is $4,400,000, convertible at $4.20 per share. Additionally, the company issued warrants for 813,278 shares at the same conversion price. Grom plans to utilize the net proceeds for working capital, joint ventures, acquisitions, and corporate purposes. Shareholders must approve the warrant issuance before they can be exercised.
Grom Social Enterprises has appointed Jared Wolfson as the new Chief Executive Officer for Curiosity Ink Media and Executive Vice President for Top Draw Animation. With over 20 years of experience in media marketing, Wolfson aims to enhance Grom's original content strategy and strengthen Top Draw Animation's global profile. His previous role at JAKKS Pacific involved overseeing various multimedia initiatives. Under his leadership, Curiosity plans to introduce new kids' entertainment properties, including animated series and publishing partnerships. This move signals Grom's commitment to expanding its Kids & Family entertainment portfolio.
Grom Social Enterprises, Inc. (NASDAQ:GROM) announces the retirement of Wayne Dearing, Managing Director of Top Draw Animation, after a 40-year career in animation. Dearing has led Top Draw for 22 years, which produces extensive animated content for global clients like Netflix and Nickelodeon. Russell Hicks, former Nickelodeon President, will take over as the new leader of Top Draw and serve as Chief Content Officer for Grom’s recently acquired Curiosity Ink Media. This change is expected to position Grom for continued success in animation.
Grom Social Enterprises, Inc. (NASDAQ: GROM) has appointed digital marketing expert Pete Jacobs as a consultant for its upcoming Santa.com launch. Set to debut in November, Santa.com aims to be a digital hub for holiday entertainment and shopping. Jacobs brings experience from MELT Method and Digital Trends, where he enhanced digital marketing strategies. The Santa.com platform will include features like wish list registration and virtual Santa visits, supported by an animation partnership with Toon2Tango.
Grom Social Enterprises (NASDAQ: GROM) announced the acquisition of 80% equity in Curiosity Ink Media LLC, a content developer for kids and families. The deal, expected to close by mid-August 2021, positions Grom to enhance its offerings in brand-safe social media and animation production. Key executive Brent Watts will remain as Chief Creative Officer, leading Curiosity's integration and content strategy. This acquisition aims to leverage Curiosity's original IP and assets for growth, bringing new initiatives and projects to market.
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 (NASDAQ: GROM) announced a public offering of 2,409,639 units priced at $4.15 each, aiming to raise approximately $10 million. Each unit consists of one common stock share and a warrant for one share at $4.565, expiring in five years. The offering includes a 45-day option for underwriters to purchase an additional 361,445 shares. Common stock and warrants will begin trading on the Nasdaq on June 17, 2021. The registration statement was declared effective by the SEC on June 16, 2021.
