---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-031111"
form_type: "8-K"
ticker: "CREX"
cik: "0001356093"
company_name: "CREATIVE REALITIES, INC."
filed_at: "2025-10-16T23:59:59+00:00"
generated_at: "2026-05-17T03:31:08.927259+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Creative Realities buys CDM for CAD 70M; Q3 prelim revenue $10.5M, CFO out

## Summary
- Acquires Cineplex Digital Media for CAD 70M in cash; expects to close in October 2025.
- Financing: $36M senior term loan (First Merchants) + $30M convertible preferred ($3/share, North Run).
- Preliminary Q3 revenue ~$10.5M (below expectations), Adj EBITDA $500K-1M; impairment charge due to Stellantis wind-down.
- Expects annualized cost synergies of at least $10M by end of 2026; pro-forma 2026 revenue >$100M, high-teen Adj EBITDA margins.
- CFO David Ryan Mudd resigned Oct 10; Chairman/CEO Richard Mills appointed interim CFO.

## SEC filing metadata
- accession: 0001437749-25-031111
- form_type: 8-K
- ticker: CREX
- cik: 0001356093
- company_name: CREATIVE REALITIES, INC.
- filed_at: 2025-10-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1356093/000143774925031111/0001437749-25-031111-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1356093/000143774925031111/crex20251016_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-031111
- JSON: https://secwatch.observer/filing/0001437749-25-031111.json
- Plain text: https://secwatch.observer/filing/0001437749-25-031111.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.