Today, Spin Master Corp. announced that in connection with its recently completed initial public offering (IPO) of 12,225,000 subordinate voting shares at a price of C$18.00 per share, the over-allotment option granted to the underwriters to purchase up to an additional 1,833,750 subordinate voting shares was exercised in full, generating additional gross proceeds to Spin Master of C$33,007,500.
Earlier this month, the president and CEO of the Toy Industry Association (TIA), Steve Pasierb, visited U.S. Consumer Product Safety Commission (CPSC) headquarters in Bethesda, Md., to discuss issues affecting the toy industry. According to the TIA, Pasierb and TIA staff met individually with Chairman Elliot Kaye and each of the agency’s four commissioners—Robert Adler, Marietta Robinson, Ann Marie Buerkle, and Joseph Mohorovic.
Rashti & Rashti has acquired Prestige Toy Corporation, a producer of infant plush toy products. Along with the Prestige brand, Rashti & Rashti has obtained several licenses for plush through the deal, including Elf on a Shelf, Fisher Price, Sesame Street, Rudolph the Red Nose Reindeer, and both Garanimals and Grin and Grow, which are exclusive to Wal-Mart.
The 2015 ABC Kids Expo, hosted by All Baby and Child Corporation, will take place at the Las Vegas Convention Center from October 18 to 21. The expo is the largest trade event in the Western Hemisphere for the baby and juvenile category, and ranks as the 47th largest expo in North America regardless of industry. The event draws nearly 15,000 people each year from around the world and occupies approximately one million feet of exhibit space.
Toy and entertainment industry professionals with an interest in emerging technologies impacting play are invited to attend the Digital Kids Summit, taking place September 9 to 10 in San Francisco. The Toy Industry Association’s (TIA) Genius of Play initiative will be featured as an event sponsor.
Toys “R” Us and Babies “R” Us raised nearly $2.2 million in in-store and online customer donations during the fifth annual nationwide fundraising and awareness campaign benefiting Alex’s Lemonade Stand Foundation (ALSF). Established in 2005, ALSF offers support to children affected by cancer worldwide, and to date has raised more than $100 million.
Toys “R” Us has released the 2015 Toys “R” Us Toy Guide for Differently-Abled Kids, a toy selection resource for those shopping for children with special needs. Available now at Toys “R” Us and Babies “R” Us stores nationwide and online, the guide showcases specially selected toys that aid in the skill development of children who have physical, cognitive, or developmental disabilities.
As reported by the Toy Industry Association (TIA), the U.S. Consumer Product Safety Commission (CPSC) approved a pilot program last week that will require participating importers to electronically file five data elements for imported consumer products, in order to help the agency more accurately target noncompliant and unsafe consumer products before they are imported. CPSC is currently seeking volunteer participants.