Cineverse CEO explains $8M equity raise to fund acquisitions, cites Terrifier 2 success

Cineverse Corp.

Closed public offering of 2,150,000 shares plus warrants for $8M gross proceeds on June 16, 2023.
Terrifier 2 earned $15M+ at box office on $250K budget; tripled Screambox paid subs and drove IP perception.
Pursuing five high-ROI IP deals including 'iconic nonfiction brand' and 'seminal horror library'; beat major studios.
Stock buyback program remains in effect through Feb 2024; CEO calls equity 'undervalued' but prioritized M&A.
Library value appraised above current market cap; further details on growth strategy set for June 29 earnings call.

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