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Red Box shareholders approve merger with Chicken Soup

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Oak Brook Terrace, IL–(business wire)– Redbox Entertainment Inc. (NASDAQ: RDBX) (“Redbox” or the “Company”) today announced that Redbox shareholders have merged with Chicken Soup for the Soul Entertainment Inc. (NASDAQ: RDBX) announced that it has approved a merger proposal related to CSSE) (“CSSE”).

At the special meeting of Redbox shareholders held today, a total of 40,837,113 shares of Redbox common stock, representing approximately 87.9% of the outstanding shares of Redbox common stock entitled to vote at the special meeting, were present and invested in person or by proxy. Of the votes cast, 39,503,634 voted in favor of the Redbox merger proposal. This voting right represents approximately 85.04% of the outstanding number of shares of Redbox common stock entitled to vote at the special meeting.

About Red Box

Redbox is an established brand and leading provider in the US home entertainment market. Through physical media and/or digital services, Redbox is focused on providing customers with the best value in entertainment and choice in how they consume it. Redbox is undergoing significant business expansion and digital transformation. Redbox is a pure DVD rental company, transactional (TVOD), ad-supported (AVOD/FLTV) and original feature film distributor with a growing library of content. Redbox currently operates through his two business segments: (1) legacy business and (2) digital business. As a legacy business, Redbox operates a nationwide network of approximately 38,000 self-service kiosks where consumers can rent or purchase new DVDs and Blu-ray discs (“movies”) of him. Redbox also generates service revenue by providing installation, merchandising and break-fix services to other kiosk businesses. Finally, Redbox will exclusively acquire and distribute films through its film distribution label, Redbox Entertainment, LLC, and will acquire rights to talent-driven films distributed through the Redbox platform and third-party digital services. Redbox offers both transactional and ad-supported digital streaming services for digital businesses. This includes 1) Redbox On Demand, a transactional service that offers digital rental or purchase of new releases and catalog movie and TV content, and 2) Redbox Free On Demand. (AVOD), an ad-supported service that offers free movies and TV shows on demand; and 3) Redbox Free Live TV (FLTV), a free ad-supported television service that provides access to over 130 linear channels. Redbox also sells third-party display advertising via mobile apps, websites and email, as well as display and video advertising in kiosks. For more information, please visit https://investors.redbox.com/.

Forward-Looking Statements

This communication relates to a proposed business combination transaction between Chicken Soup for the Soul Entertainment, Inc. and Redbox Entertainment, Inc. This communication contains “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include, for example, projections about the expected benefits of the proposed transaction, the anticipated impact of the proposed transaction on the combined organization’s business and future financial and operating results, and projected amounts. It addresses a variety of subjects, such as and when. synergies from the proposed deal and the expected closing date of the proposed deal; Statements that are not historical facts, including statements regarding CSSE and Redbox’s beliefs, plans and expectations, are forward-looking statements. Such statements are based on CSSE’s and Redbox’s current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. there is. Forward-looking statements often include words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “plan,” “estimate,” Contains words such as “target” and similar expressions. As a variant or negative form of these words. In particular, the following important factors and uncertainties could cause actual results to differ materially from those set forth in these forward-looking statements. political and economic uncertainty; This includes declining global economic conditions or credit and financial market stability, declining consumer confidence and reduced customer spending. Unavailability of raw materials, services, supplies, or manufacturing capacity. Changes in geographic reach or product or customer mix. changes in export classifications, import/export controls, or tariffs and tariffs; Changes in CSSE or Redbox’s estimated tax rate estimates based on current tax laws. CSSE’s ability to successfully integrate Redbox’s business and technology. the risk that the expected benefits and synergies of the proposed transaction and the growth prospects of the combined company will not be achieved in full or at all in a timely manner; adverse consequences in litigation matters, including potential litigation related to the proposed transaction; the risk that CSSE or Redbox will be unable to retain and employ key personnel; the ability of CSSE and Redbox to obtain the approvals of their respective shareholders necessary to complete the proposed transaction and the risks associated with the timing of the closing of the proposed transaction; This includes the risk that the terms of the transaction will not be met in a timely manner. If the transaction is not completed at all or for any other reason, or if the transaction is not completed on expected terms, including anticipated tax treatment. The risk that the required regulatory approvals, consents or permits for the proposed transaction will not be obtained or will be obtained under unforeseen conditions. Unforeseen difficulties or expenses related to transactions, responses of business partners, and retention as a result of the announcement and suspension of transactions. uncertainty regarding the long-term value of CSSE’s common stock; Diversion of administrative time to transaction-related matters. These and other risks associated with the proposed transaction are contained in the registration statement on Form S-4 and the proxy statement/information statement/prospectus filed with the Securities and Exchange Commission. (“SEC”) in connection with the proposed transaction. The list of factors set forth herein and the list of factors provided in the registration statement on Form S-4 are believed to be representative, but such list is not intended to represent all potential It should not be considered a complete statement of risks and uncertainties. See CSSE’s and Redbox’s respective periodic reports and other filings with the SEC for additional information regarding other factors that could cause actual results to differ materially from those set forth in the forward-looking statements. please. Recent quarterly reports on Form 10-Q and annual reports on Form 10-K. Forward-looking statements represent management’s current expectations, are inherently uncertain, and are made only as of the date hereof. Neither CSSE nor Redbox undertakes any obligation to update any forward-looking statements as a result of new information or to reflect subsequent events, circumstances or otherwise, except as required by law.