01:10 PM EST, 11/05/2025 (MT Newswires) -- Cheer (CHR) said Wednesday it has struck a deal to sell 187.5 million Class A shares at $0.08 per share to some investors in a direct offering, with Univest Securities as the placement agent.

The investors can also buy pre-funded warrants in lieu, the firm said. It expects to close the offering Nov. 6.

Shares were down over 34% in recent trading.

Price: 0.09, Change: -0.05, Percent Change: -34.56