Cinedigm (CIDM) Raises Capital Through Second Lien Loans
- Wall St. opens flat as investors assess earnings
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Cinedigm Corp. (NASDAQ: CIDM) (the “Company”) today announced that it sold $2.5 million principal amount of loans (the “Loans”) and 245,000 shares (the “Shares) of the Company’s Class A common stock, par value $0.001 per share (the “Common Stock”) in connection with the Loans. The Loans were made pursuant to the Company’s Second Lien Loan Agreement (the “Loan Agreement”) dated as of July 14, 2016. The terms of the Loan Agreement, and the Loans made thereunder, have been previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 19, 2016. The proceeds of the Loans will be used for the payment of fees and expenses incurred in connection with the Loans and for working capital and general corporate purposes, including for development of the Company’s over-the-top, or OTT, line of business. The Loans and Shares were sold to investors including Ronald L. Chez, a member of the Company’s Board of Directors, and Christopher J. McGurk, the Company’s Chief Executive Officer and Chairman.
To date, the Company has closed on $4.5 million principal amount of loans under the Loan Agreement.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Philip Morris (PM) Discloses Formal Probe Related to PM Thailand in 10-Q Filing
- CTI BioPharma (CTIC), Baxalta Terminate Pacritinib Licensing Agreement (SHPG)
- Energy Transfer Partners (ETP) to Acquire PennTex Development (PTXP)
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!