CHICKEN SOUP FOR SOUL ENTERTAINMENT, INC. : Other events, financial statements and exposures (form 8-K)

Item 8.01 Other Events




General

At November 8, 2021, the Board of Directors (the “Board”) of Chicken Soup for the Soul Entertainment, Inc. (the “Company”) has authorized and approved a share buyback program up to a maximum of 10 million dollars Class A common shares currently outstanding of the Company over a 24 month period. As part of the share repurchase program, the Company intends to repurchase shares through open market purchases, privately traded transactions, block purchases or otherwise in accordance with Federal Laws on applicable securities, including rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”).

The board also authorized the company, at the discretion of management, to enter into written trading plans under rule 10b5-1 of the Exchange Act. Adopting a trading plan that meets the conditions of Rule 10b5-1 allows a company to redeem its shares at times when it might otherwise be precluded from doing so due to blackout periods. imposed or under insider trading laws. Under any Rule 10b5-1 trading plan, the Company’s third-party broker, subject to Security and Trade Commission regulation regarding certain constraints of price, market, volume and schedule, would have the power to purchase the common shares of the Company in accordance with the terms of the plan. The Company may from time to time enter into trading plans under Rule 10b5-1 to facilitate the repurchase of its common shares in accordance with its share repurchase program.

The Company cannot predict when or if it will repurchase common shares, as this share repurchase program will depend on a number of factors, including the constraints specified in the trading plans of Rule 10b5-1, the prices, general business and market conditions, and alternative investment opportunities. Information regarding share repurchases will be available in the Company’s periodic reports on forms 10-Q and 10-K filed with the Security and Trade Commission as required by the applicable rules of the Exchange Act.

The share buyback program was announced by the Company in its press release announcing its financial results for the three and nine month period ended.
September 30, 2021, a copy of which is attached to this report.

Forward-looking statements

This current report on Form 8-K contains forward-looking statements. Forward-looking statements include, without limitation, statements regarding expectations, intentions and strategies regarding the future. Further, any statement that refers to projections, forecasts or other characterizations of future events or circumstances, including underlying assumptions, are forward-looking statements. The words “target”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “‘expect”, “intend”, “could”, “could”, “could” , “Potential”, “predicted”, “project”, “should”, “should” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this document are based on current expectations and beliefs regarding future developments and their potential effects on the Company and its subsidiaries. There can be no assurance that future developments will be those anticipated. These forward-looking statements involve numerous risks, uncertainties (some of which are beyond the control of the Company) or other assumptions which may lead to actual results or performance materially different from those expressed or implied by these forward-looking statements. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. .

Item 9.01 Financial statements, pro forma financial information and supporting documents.

(d) Exhibits:




Exhibit                   Description

  99.1       Press Release issued November 8, 2021




104   Cover Page Interactive Data File (formatted as Inline XBRL and contained in
      Exhibit 101)

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