---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-012202"
form_type: "8-K"
ticker: "CNVS"
cik: "0001173204"
company_name: "Cineverse Corp."
filed_at: "2023-04-07T23:59:59+00:00"
generated_at: "2026-06-17T04:29:13.866539+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-012202
- form_type: 8-K
- ticker: CNVS
- cik: 0001173204
- company_name: Cineverse Corp.
- filed_at: 2023-04-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.03, 3.02, 1.01, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1173204/000095017023012202/0000950170-23-012202-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1173204/000095017023012202/cidm-20230403.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-012202
- JSON: https://secwatch.observer/filing/0000950170-23-012202.json
- Plain text: https://secwatch.observer/filing/0000950170-23-012202.txt

## Key facts
- Governance Changes
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1173204/000095017023012202/0000950170-23-012202-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.