{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-344631","form_type":"8-K","ticker":"NCMI","cik":"0001377630","company_name":"National CineMedia, Inc.","filed_at":"2026-08-11T20:10:02+00:00","discovered_at":"2026-08-11T20:11:00.114772+00:00","generated_at":"2026-08-11T20:11:38.373042+00:00","sec_items":["1.01","7.01","9.01","8.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"NCM acquires Captivate for $275M (10x EBITDA), expands to 48k screens, pauses dividend","bullets":["Acquires 100% of Captivate for $275M enterprise value (~10x pro forma EBITDA); cash consideration.","Captivate 2025 revenue ~$64M, Adj EBITDA ~$19M; grew ~40% and >50% over past two years.","Combined network: 48,000+ screens across 185 DMAs incl. all top 100; adds office/residential.","Funding: $275M term loan + $25M revolver (7.00% SOFR margin); net leverage ~3.9x at close.","Expects >$3.5M annual run-rate cost synergies within year one; pauses dividend and buybacks."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-344631","json":"https://secwatch.observer/filing/0001193125-26-344631.json","markdown":"https://secwatch.observer/filing/0001193125-26-344631.md","text":"https://secwatch.observer/filing/0001193125-26-344631.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1377630/000119312526344631/0001193125-26-344631-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1377630/000119312526344631/ncmi-20260810.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-08-11T20:11:38.373042+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}