secwatch.observer — SEC 8-K summary
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Issuer:     Cineverse Corp. (CNVS)
CIK:        0001173204
Form:       8-K
Filed at:   2023-04-07T23:59:59+00:00
Accession:  0000950170-23-012202
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.03, 3.02, 1.01, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173204/000095017023012202/0000950170-23-012202-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173204/000095017023012202/cidm-20230403.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-012202

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer