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Redbox Owner Raises $175 Million in Working Capital, Adds Two Board Members

Redbox Owner Raises $175 Million in Working Capital, Adds Two Board Members

Chicken Soup for the Soul Entertainment, the owner/operator of Redbox, has entered into an agreement with two financial partners that allows it to raise $175 million of additional working capital prior to June 6.

Robert H. Warshauer

The company said it would use the funds to sublicense select “video content assets” and for one or more sales leaseback transactions. CSSE said it would also spend $75 million to pay down amounts owed under a credit agreement with HPS Investment Partners.

John T. Young Jr.

As part of the additional funding, CSSE is expanding its board of directors from nine members to 11, with the addition of independent members John T. Young Jr., managing partner at Neinda Advisors LLC, and Robert H. Warshauer, managing director of Imperial Capital.

According to CSSE, Young has “deep experience” in restructuring advisory matters, including serving as a chief restructuring officer of, or restructuring advisor to, numerous gas, oil and utility companies. Warshauer is an experienced executive with decades of experience providing operational, financial and investment banking expertise to public and private companies.

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