Cinedigm issues CEO special preferred share with 1.8B votes on reverse split proposals

Cineverse Corp.

CEO Christopher McGurk bought one Series B Preferred share for $10,000; carries 1,800,000,000 votes.
Preferred stock votes only on Reverse Stock Split Proposals, mirroring common stock votes proportionally.
Abstentions and non-votes on reverse split proposals now have virtually no effect due to preferred vote structure.
Preferred is non-convertible, ranks senior to common on liquidation ($10,000 preference), and auto-redeems after reverse split approval.

item 5.03 item 3.02 item 1.01 item 3.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Cineverse Corp.: Filed a Certificate of Designation for Series B Preferred Stock, establishing preferences, rights, and limitations including conversion, dividends, voting, liquidation, transfer restrictions, and redemption provisions (effective 2023-04-03).

Change: charter amendment
Effective: 2023-04-03

Exact text from the filing

On April 3, 2023, in connection with the Purchase Agreement, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series B Preferred Stock (the “Series B Certificate of Designation”) with the Secretary of State of the State of Delaware.

View on SEC.gov

89 governance changes filed in the last 30 days. Browse all governance changes →

Cineverse Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-012202

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.