LOS ANGELES – April 9, 2025 – 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. “The team at East West Bank, including Managing Director David Acosta, have been great to work with and we greatly appreciate their help and support over these past several years.”
This further strengthens the Company’s balance sheet without equity dilution. It comes following Cineverse’s recent reporting of a successful fiscal third quarter.
