Cineverse expands existing line of credit facility with east west bank to $15 million with a three-year term

Additional capital ensures cineverse will be well-positioned moving forward as it continues to invest in content to build off its recent box office success los angeles , april 9, 2025 /prnewswire/ -- cineverse corp. (nasdaq: cnvs) ("cineverse", "us", "our", "we", and the "company"), a next-generation entertainment studio, today announced that it has expanded the size of its existing line of credit facility with pasadena-based east west bank from $7.5 million to $12.5 million, expandable to $15 million, and extended the term from one-year to three-years at an interest rate of prime plus 1.25% (8.75% currently with a $0 current balance).   "closing this expanded credit facility with our long-term collaborators at east west bank allows us to make content and other investments that are critical to our top-line revenue growth," said chris mcgurk, cineverse chairman and ceo.
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