Kartoon Studios Acquisition Corp. Launches $10-Per-Unit SPAC IPO, Targeting North American Media And Entertainment Companies Focused On Children’s And Family Content

EF Hutton will be Sole Underwriter

BEVERLY HILLS, CA / ACCESS Newswire / November 5, 2026 / Kartoon Studios, Inc. (NYSE:TOON) ("Kartoon Studios" or the "Company") today announced that Kartoon Studios Acquisition Corp. ("KSAC") has publicly filed a registration statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC"). The filing is for a proposed $300 million initial public offering. KSAC is a newly formed special purpose acquisition company, and its initial public offering will be underwritten by E.F. Hutton & Co.

The Offering: Size: 30,000,000 units at $10.00 per unit, for gross proceeds of $300.0 million. KSAC also expects to provide the underwriters an option to buy up to an additional 15% of the units to cover overallotments, if any.

• Trust account: The offering proceeds will be placed in a trust account for the benefit of KSAC's public shareholders, as described in the Registration Statement.
• Unit structure: Each unit consists of one Class A ordinary share and one redeemable warrant. Each warrant entitles the holder to buy one Class A ordinary share.
• Listing: KSAC intends to list its units on the New York Stock Exchange under the symbol "KACQ U."
• Book-runner: E.F. Hutton & Co. is acting as sole book-running manager.

KSAC intends to pursue business combination targets in media and entertainment. KSAC will be led by:

• Andy Heyward , Chairman and CEO of Kartoon Studios and KSAC
• Brian Parisi , CFO of Kartoon Studios and KSAC
• Michael Jaffa , Chief Operating Officer of Kartoon Studios and KSAC

There can be no assurance that the public filing of the Registration Statement will result in any transaction or other action by KSAC. Kartoon Studios does not intend to comment on or provide updates about these matters unless and until it determines that further disclosure is appropriate or required based on the then-current facts and circumstances.