CINEVERSE EXPANDS EXISTING CREDIT LINE WITH EAST WEST BANK TO $7.5 MILLION
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Ensures the Streaming Tech and Entertainment Company Will Continue to Be Well-Positioned Financially
"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," said Chris McGurk, Cineverse Chairman and CEO. "
ABOUT CINEVERSE
Cineverse's advanced, proprietary technology drives the distribution of over 70,000 premium films, series, and podcasts to more than 150 million unique viewers monthly. From providing a complete streaming solution to some of the world's most recognizable brands, to super-serving their own network of fan channels, Cineverse (NASDAQ: CNVS) is powering the future of entertainment. For more information, please visit cineverse.com.
CONTACTS:
For Media
The Lippin Group, cineverse@lippingroup.com
For Investors
Julie Milstead, investorrelations@cineverse.com
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SOURCE Cineverse Corp.