Cineverse announces proposed public offering of Class A common stock

Cineverse Corp. (NASDAQ: CNVS) announced a proposed underwritten public offering of its Class A common stock. The entertainment technology company plans to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares offered.

The Benchmark Company, LLC will serve as the sole underwriter for the proposed offering. Cineverse stated the offering is subject to market conditions, with no assurance regarding completion timing or final terms.

The company will conduct the offering under a shelf registration statement on Form S-3 that became effective on January 25, 2024. A preliminary prospectus supplement and accompanying prospectus will be filed with the Securities and Exchange Commission.

Cineverse operates as an entertainment technology company and studio, developing technology and content for the industry. The company distributes more than 71,000 films, series, and podcasts across theatrical, home entertainment, and streaming platforms through its Matchpoint technology ecosystem.

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