{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-043527","form_type":"8-K","ticker":"CNVS","cik":"0001173204","company_name":"Cineverse Corp.","filed_at":"2024-04-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.526800+00:00","generated_at":"2026-06-03T23:50:39.236375+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"confidence":"high","headline":"Cineverse subsidiary enters $3.666M loan for 'Terrifier 3' film distribution","bullets":["Loan principal up to $3,666,000; maturity April 1, 2025, extendable 120 days.","No interest until maturity except a $576,000 advance; 1.44% per month if extended.","Proceeds fund distribution of Terrifier 3; lender gets 15% of royalties post-payment up to 1.75x commitment.","Parent guarantee capped at $1.5M, subordinated to East West Bank facility; Amendment No. 3 signed.","Loan secured by first priority interest in film rights and distribution agreements."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-043527","json":"https://secwatch.observer/filing/0000950170-24-043527.json","markdown":"https://secwatch.observer/filing/0000950170-24-043527.md","text":"https://secwatch.observer/filing/0000950170-24-043527.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/cnvs-20240405.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T23:50:39.236375+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a5d80b217412eec00fe39d2b21840fd2e5444433","claim":"Cineverse Corp. incurred guarantee of capped at obligations not exceeding $1,500,000 with BondIt LLC.","evidence_excerpt":"The Company entered into a Guaranty Agreement pursuant to which it provided a guarantee of the T3 Loan which is capped at obligations not exceeding $1,500,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"guarantee"},{"label":"Principal","value":"capped at obligations not exceeding $1,500,000"},{"label":"Counterparty","value":"BondIt LLC"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e412724253217d0467cca800473c8c50b32e149a","claim":"Cineverse Corp. incurred term loan of not to exceed $3,666,000 with BondIt LLC at interest at a rate of 1.44% per month maturing April 1, 2025, unless extended for 120 days.","evidence_excerpt":"The T3 Loan Agreement provides for a term loan with a principal amount not to exceed $3,666,000 (the “T3 Loan”), and a maturity date of April 1, 2025, unless extended for 120 days. The T3 Loan bears no interest until the maturity date other than an interest advance equal to $576,000 deemed earned at the closing of the T3 Loan on April 5, 2024. If the T3 Loan is extended as noted above, the T3 Loan will bear interest at a rate of 1.44% per month.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"not to exceed $3,666,000"},{"label":"Counterparty","value":"BondIt LLC"},{"label":"Rate","value":"interest at a rate of 1.44% per month"},{"label":"Maturity","value":"April 1, 2025, unless extended for 120 days"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"7c2b5bcd56f2bc03f6c4fb159a8371f6f02fe7d4","claim":"Cineverse Corp. entered into Loan and Security Agreement with BondIt LLC valued at not to exceed $3,666,000 (effective 2024-04-05).","evidence_excerpt":"On April 5, 2024, Cineverse Terrifier LLC (“T3 Borrower”), a wholly-owned subsidiary of Cineverse Corp. (the “Company”) entered into a Loan and Security Agreement with BondIt LLC (“T3 Lender”) and the Company, as a guarantor (the “T3 Loan Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"BondIt LLC"},{"label":"Value","value":"not to exceed $3,666,000"},{"label":"Effective","value":"2024-04-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}