secwatch.observer — SEC 8-K summary
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Issuer:     CREATIVE REALITIES, INC. (CREX)
CIK:        0001356093
Form:       8-K
Filed at:   2025-10-16T23:59:59+00:00
Accession:  0001437749-25-031111
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1356093/000143774925031111/0001437749-25-031111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1356093/000143774925031111/crex20251016_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-031111

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