Genius Brands gets $6m boost

US children’s content firm Genius Brands International (GBI) has raised US$6m in funds through a private placement.

GBI says it has signed “definitive agreements” to sell 6,000 of its shares, via a transaction led by Wolverine Asset Management LLC, a global institutional investor headquartered in Chicago.

GBI merged with Andy Heyward’s A Squared Entertainment last year.

Its brands include Baby Genius, Secret Millionaires Club, Thomas Edison’s Secret Lab and Stan Lee’s Mighty 7.

“The proceeds of this placement will be used to market our brands, expand our global licensing and distribution business, and accelerate our business plan,” said Heyward, chairman and CEO, GBI.