Redbox Entertainment (RDBX) Stock: Why It Fell 52.86%

By Amit Chowdhry ● Aug 11, 2022
  • The stock price of Redbox Entertainment (RDBX) fell by 52.86% in the previous trading session. This is why.

The stock price of Redbox Entertainment (RDBX) fell by 52.86% in the previous trading session. Investors responded negatively to Redbox Entertainment announcing that Redbox stockholders approved the merger proposal in connection with the previously announced merger with Chicken Soup for the Soul Entertainment (CSSE).

At the Special Meeting of Redbox stockholders held yesterday, a total of 40,837,113 shares of common stock of Redbox, representing approximately 87.9% of the outstanding shares of Redbox common stock entitled to vote at the special meeting, were present in person or by proxy, and 39,503,634 of the votes cast were voted in favor of the Redbox merger proposal, which votes represented approximately 85.04% of the outstanding shares of Redbox common stock entitled to vote at the special meeting.