Genius Brands announced that Arnold Schwarzenegger, who is starring in and co-producing the new animated children’s series, Stan Lee’s Superhero Kindergarten, elected to receive warrants to purchase shares of the company’s common stock as an advance against his profit participation in the show. Any further payouts will likely be in the form of cash payments, the company added. Created by Stan Lee as one of his final projects, Stan Lee’s Superhero Kindergarten, which will premiere in 2021 on Amazon Prime (AMZN) in the U.S., is co-produced by Genius Brands with China’s Alibaba Group (BABA), Lee’s POW! Entertainment, and Schwarzenegger’s Oak Productions. Andy Heyward, CEO of Genius Brands, noted, “We are grateful to have Arnold, not only as a co-producer, but also as a warrant holder, which is a tribute to his belief in both the series and Genius Brands. Not only is Arnold a legendary entertainer and a leading voice in promoting children’s education and fitness, he is a uniquely accomplished investor who brings the perspective of having been Governor of California, the 5th largest economy in the world. I can think of no better or smarter partner.” Shares of Genius Brands are up 11% to $4.60 in premarket trading.
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