Cineverse, a streaming technology and entertainment company, expanded its line of credit from East West Bank to $7.5 million.
“We are pleased to have closed this expanded credit facility, further strengthening our balance sheet without any equity dilution. It provides access to additional working capital to support our key business initiatives as we approach sustainable profitability,” Chris McGurk, chairman and CEO of Cineverse, said. “East West Bank’s EVP Bennett Pozil and his team have been excellent long-term business partners in helping support and grow our business over the past six years.”
