Jupiter Wellness (NASDAQ: JUPW), a diversified company that supports health and wellness, today announced that SRM Entertainment Inc. (NASDAQ: SRM), currently a subsidiary of the company, announced the pricing of its initial public offering of 1,250,000 shares of its common stock at a price to the public of $5.00 per share. Gross proceeds from the offering are expected to be $6.25 million. The shares of SRM began began trading under the symbol SRM on the Nasdaq Capital Market on Aug. 15, 2023. Subject to the satisfaction of customary conditions, the offering is expected to close on Aug. 16, 2023. In addition, SRM has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of its common stock at the initial public offering price, less the underwriting discounts and commissions. “We congratulate SRM on their IPO and are pleased to see SRM better positioned to execute on their business opportunity as a publicly traded stand-alone company,” said Jupiter Wellness CEO Brian John. “Jupiter Wellness will retain approximately 4.5 million shares of SRM following the SRM IPO.”
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About Jupiter Wellness Inc.
Jupiter Wellness is a diversified company that supports health and wellness by researching and developing over-the-counter (“OTC”) products and intellectual property. The company’s product pipeline addresses a range of conditions, including hair loss, psoriasis and vitiligo. Revenue is generated through the sales of OTC and consumer products and licensing royalties. The company recently acquired Safety Shot, the world’s first blood alcohol detox drink. Interested investors and shareholders are encouraged to sign up for press releases and industry updates by registering for email alerts at JupiterWellness.com/email-alerts and by following Jupiter Wellness on Twitter and LinkedIn.
NOTE TO INVESTORS: The latest news and updates relating to JUPW are available in the company’s newsroom at https://ibn.fm/JUPW
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