Cineverse to exchange 3.118 Series A Preferred shares for up to 1.5M common shares in five tranches

Cineverse Corp.

Exchange of 3.118 preferred shares for common shares in five equal tranches beginning May 1, 2026.
Common shares issued per tranche = $311,800 divided by 5-day VWAP, up to 1.5M shares total.
Preferred shares cancelled upon conversion; common shares unrestricted based on tacked holding period.
Holder restricted from selling more than 5% of 5-day average daily volume per trading day.
Issuance exempt under Section 3(a)(9) of Securities Act; no additional cash consideration.

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