Kartoon Studios Acquisition, a blank check company backed by Kartoon Studios targeting children's media and entertainment, filed on Thursday with the SEC to raise up to $300 million in an initial public offering.
The company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one whole warrant to purchase a share, exercisable at $11.50.
Kartoon Studios Acquisition is led by CEO and Chairman Andy Heyward and CFO Brian Parisi, who serve as CEO and CFO of Kartoon Studios Inc. (NYSE American: TOON), respectively.
The SPAC's sponsor is owned by Kartoon Studios, which creates, produces, licenses, and distributes animated content for children and families, including Hundred Acre Wood: Winnie and Friends and Shaq’s Garage. Kartoon Studios' stock ended Wednesday at $0.52 per share.
The SPAC plans to target businesses in the media and entertainment sector in North America, with an emphasis on children’s, family, and character-driven entertainment. It notes that it is not prohibited from pursuing a business combination with a company that is affiliated with its sponsor.
The Beverly Hills, CA-based company was founded in 2026. It plans to list on the NYSE under the symbol KACQ.U. Kartoon Studios Acquisition filed confidentially on October 16, 2026. E.F. Hutton & Co. is the sole bookrunner on the deal.
