Cineverse Expands Existing Line of Credit Facility with East West Bank to $15 Million with a Three-Year Term
Cineverse (NASDAQ: CNVS) has expanded its credit facility with East West Bank from $7.5 million to $12.5 million, with potential expansion to $15 million. The agreement extends the term from one year to three years at an interest rate of Prime plus 1.25% (currently 8.75% with $0 balance).
The expanded credit line follows Cineverse's successful fiscal third quarter and aims to support content investments for top-line revenue growth. The non-dilutive financing strengthens the company's balance sheet while maintaining existing shareholder equity.
Cineverse (NASDAQ: CNVS) ha ampliato la sua linea di credito con East West Bank da 7,5 milioni di dollari a 12,5 milioni di dollari, con una potenziale espansione a 15 milioni di dollari. L'accordo estende il termine da un anno a tre anni con un tasso di interesse pari al Prime più 1,25% (attualmente 8,75% con un saldo di 0 dollari).
La linea di credito ampliata segue il successo di Cineverse nel terzo trimestre fiscale e mira a supportare gli investimenti in contenuti per la crescita dei ricavi. Il finanziamento non diluitivo rafforza il bilancio dell'azienda mantenendo l'equità degli azionisti esistenti.
Cineverse (NASDAQ: CNVS) ha ampliado su línea de crédito con East West Bank de 7,5 millones de dólares a 12,5 millones de dólares, con una posible expansión a 15 millones de dólares. El acuerdo extiende el plazo de un año a tres años con una tasa de interés de Prime más 1,25% (actualmente 8,75% con un saldo de 0 dólares).
La línea de crédito ampliada sigue al exitoso tercer trimestre fiscal de Cineverse y tiene como objetivo apoyar las inversiones en contenido para el crecimiento de los ingresos. El financiamiento no dilutivo fortalece el balance de la empresa mientras mantiene la equidad de los accionistas existentes.
시네버스 (NASDAQ: CNVS)는 이스트 웨스트 뱅크와의 신용 한도를 750만 달러에서 1250만 달러로 확대했으며, 1500만 달러로의 추가 확장이 가능합니다. 이번 계약은 기간을 1년에서 3년으로 연장하며, 이자율은 프라임 금리에 1.25%를 더한 것으로 현재는 8.75%이며 잔액은 0달러입니다.
확대된 신용 한도는 시네버스의 성공적인 3분기 재무 성과에 이어 이루어졌으며, 수익 성장을 위한 콘텐츠 투자 지원을 목표로 하고 있습니다. 비희석 자금 조달은 기존 주주 지분을 유지하면서 회사의 재무 상태를 강화합니다.
Cineverse (NASDAQ: CNVS) a élargi sa ligne de crédit avec East West Bank de 7,5 millions de dollars à 12,5 millions de dollars, avec une éventuelle extension à 15 millions de dollars. L'accord prolonge la durée d'un an à trois ans à un taux d'intérêt de Prime plus 1,25% (actuellement 8,75% avec un solde de 0 dollar).
La ligne de crédit élargie fait suite au succès de Cineverse au troisième trimestre fiscal et vise à soutenir les investissements dans le contenu pour la croissance des revenus. Le financement non dilutif renforce le bilan de l'entreprise tout en maintenant l'équité des actionnaires existants.
Cineverse (NASDAQ: CNVS) hat seine Kreditlinie bei der East West Bank von 7,5 Millionen Dollar auf 12,5 Millionen Dollar erhöht, mit einer möglichen Erweiterung auf 15 Millionen Dollar. Die Vereinbarung verlängert die Laufzeit von einem Jahr auf drei Jahre zu einem Zinssatz von Prime plus 1,25% (derzeit 8,75% bei einem Saldo von 0 Dollar).
Die erweiterte Kreditlinie folgt auf das erfolgreiche dritte Quartal von Cineverse und zielt darauf ab, Investitionen in Inhalte zur Steigerung des Umsatzes zu unterstützen. Die nicht verwässernde Finanzierung stärkt die Bilanz des Unternehmens und erhält gleichzeitig das Eigenkapital der bestehenden Aktionäre.
- Credit facility expanded from $7.5M to $12.5M (potentially $15M)
- Term extended from 1 to 3 years providing longer-term financial flexibility
- Non-dilutive financing preserves shareholder value
- Follows successful fiscal Q3 performance
- Current $0 balance indicates strong cash position
- Interest rate of 8.75% (Prime + 1.25%) represents significant borrowing cost
Additional Capital Ensures Cineverse will be Well-Positioned Moving Forward as it Continues to Invest in Content to Build Off its Recent Box Office Success
"Closing this expanded credit facility with our long-term collaborators at
This further strengthens the Company's balance sheet without equity dilution. It comes following Cineverse's recent reporting of a successful fiscal third quarter.
About Cineverse
Cineverse (Nasdaq: CNVS) is a next-generation entertainment studio that empowers creators and entertains fans with a wide breadth of content through the power of technology. It has developed a new blueprint for delivering entertainment experiences to passionate audiences and results for its partners with unprecedented efficiency, and distributes more than 71,000 premium films, series, and podcasts. Cineverse connects fans with bold, authentic, independent stories. Properties include the highest-grossing non-rated film in
Contacts:
For Media
The Lippin Group, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
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SOURCE Cineverse Corp.
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