Kartoon Studios Inc (NASDAQ:TOON) shares are trading lower by 26% to $1.09 during Thursday's session after the company announced the pricing of a registered direct offering of up to 7 million shares of its common stock and/or pre-funded warrants at $1.00 per share and $0.99 per pre-funded warrant to institutional investors.

The offering is expected to generate gross proceeds of approximately $7 million. The first tranche of 4 million shares is set to close around April 22, with investors having the option to purchase an additional 3 million shares within 180 days.

EF Hutton LLC is serving as the sole placement agent for the offering.

How To Buy TOON Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Kartoon Studios' case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, TOON has a 52-week high of $3.45 and a 52-week low of $0.93.