secwatch.observer — SEC 8-K summary
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Issuer:     Cineverse Corp. (CNVS)
CIK:        0001173204
Form:       8-K
Filed at:   2024-04-11T23:59:59+00:00
Accession:  0000950170-24-043527
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Cineverse subsidiary enters $3.666M loan for 'Terrifier 3' film distribution
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/0000950170-24-043527-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024043527/cnvs-20240405.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-043527

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