secwatch.observer — SEC 8-K summary
======================================

Issuer:     Cineverse Corp. (CNVS)
CIK:        0001173204
Form:       8-K
Filed at:   2026-02-12T23:59:59+00:00
Accession:  0001193125-26-048897
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cineverse buys IndiCue for $22M, raises $13M notes, prelim Q3 rev $15-17M
-------------------------------------------------------------------------

- Acquires IndiCue ($22M: $12.8M cash at close, $9.2M cash/stock year one); CTV ad platform.
- Issues $13M convertible notes (9% interest, 4-year term) to fund acquisition and working capital.
- Preliminary Q3 FY2026 revenue $15-17M, net loss $(0.5)-(1.0)M, Adj. EBITDA $2-3M.
- Earnout possible based on IndiCue revenue growth and gross margin targets.
- IndiCue FY2024 revenue $10.2M, net income $1.8M; acquisition close expected Feb 13, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173204/000119312526048897/0001193125-26-048897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173204/000119312526048897/d38594d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-048897

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