Cineverse Corp. (CNVS): debt financing — Cineverse expands credit facility with East West Bank to $12.5M, extendable to $15M, with three-year term

Cineverse Corp.

New $12.5M revolving facility (expandable to $15M at lender's discretion) replaces prior $7.5M line.
Maturity extended to April 8, 2028; interest rate Prime + 1.25% (currently 8.75%), $0 drawn at closing.
Proceeds to fund content investment/acquisitions, working capital, and repayment of prior facility expenses.
Company emphasizes non-dilutive financing and follows strong fiscal Q3 results reported in March 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Cineverse Corp. incurred credit facility of maximum of $12,500,000 in revolving loans at any one time outstanding, which principal amount may be increased to $15,00 with East West Bank at one and twenty-five one-hundredths of one percent (1.25%) above the Prime Rate maturing April 8, 2028.

Instrument: credit facility
Principal: maximum of $12,500,000 in revolving loans at any one time outstanding, which principal amount may be increased to $15,00
Counterparty: East West Bank
Rate: one and twenty-five one-hundredths of one percent (1.25%) above the Prime Rate
Maturity: April 8, 2028
Event: incurrence

Exact text from the filing

The Loan Agreement provides for a credit facility (the “Credit Facility”) consisting of a maximum of $12,500,000 in revolving loans at any one time outstanding, which principal amount may be increased to $15,000,000 at the Company’s request and at EWB’s discretion, and having a maturity date of April 8, 2028. Advances under the Credit Facility will bear interest on the outstanding daily balance at one and twenty-five one-hundredths of one percent (1.25%) above the Prime Rate (as defined in the Loan Agreement).

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Source: SEC EDGAR

accession 0000950170-25-053766

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