Cinedigm announces overall corporate debt reduction of $44.2 million

89% reduction in debt since march 31, 2020 delevers balance sheet to support streaming m&a strategy los angeles, ca / accesswire / may 7, 2021 / cinedigm corp. (nasdaq:cidm) announced today that over the past twelve months, the company has reduced its total outstanding debt balance by $44.2 million or 89% to a current balance of $5.7 million from $49.9 million at march 31, 2020. the company achieved this significant debt reduction milestone by converting $15.0 million in convertible notes to equity, retiring $8.2 million of second lien debt, repaying $8.7 million of digital cinema non-recourse debt and $14.4 million in revolver debt.
CIDM Ratings Summary
CIDM Quant Ranking