LOS
ANGELES, June 13, 2023 /PRNewswire/
-- Cineverse Corp. ("Cineverse" or the "Company") (NASDAQ:
CNVS), a global streaming technology and entertainment company with
one of the world's largest portfolios of streaming channels and
streaming content libraries, today announced that it intends to
offer and sell shares of its common stock and warrants in a public
offering. All of the securities to be sold in the offering are to
be offered by Cineverse. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The Company intends to use the net proceeds from the offering
for working capital and other general corporate purposes, including
the financing of content acquisition and development.
A.G.P./Alliance Global Partners is acting as the lead placement
agent for the offering on a reasonable best-efforts basis.
Titan Partners Group, a division of American Capital Partners,
LLC, is acting as co-placement agent for the offering. The
Benchmark Company, LLC is acting as financial advisor for the
offering.
The offering is being made pursuant to the Company's shelf
registration statement on Form S-3 (File No. 333-239710) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
under the Securities Act of 1933, as amended, which was declared
effective by the SEC on July 10,
2020. The offering will be made only by means of a
prospectus supplement and accompanying base prospectus, as may be
further supplemented by any free writing prospectus and/or pricing
supplement that Cineverse may file with the SEC. The preliminary
prospectus supplement and accompanying prospectus describing the
terms of the proposed offering will be filed with the SEC and will
be available on the SEC's website located at
http://www.sec.gov. Electronic copies of the preliminary
prospectus supplement may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by
telephone at (212) 624-2060, or by email at
prospectus@allianceg.com. Before investing in this offering,
interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that Cineverse has filed with the SEC that are incorporated by
reference in such prospectus supplement and the accompanying
prospectus, which provide more information about Cineverse and such
offering.
About Cineverse
Cineverse is a global streaming
technology and entertainment company with one of the world's
largest portfolios of streaming channels and streaming content
libraries, all powered by its advanced, proprietary technology
platform. Cineverse currently features enthusiast brands for
subscription video on demand (SVOD), advertising-based video on
demand (AVOD) and free, ad-supported streaming television (FAST)
channels. Cineverse entertains consumers around the globe by
providing premium feature film and television series, enthusiast
streaming channels and technology services to some of the world's
largest media, retail and technology companies. For more
information, please visit www.cineverse.com.
Safe Harbor Statement
Investors and readers are
cautioned that certain statements contained in this document, as
well as some statements in periodic press releases and some oral
statements of Cineverse officials during presentations about
Cineverse, along with Cineverse's filings with the Securities and
Exchange Commission, including Cineverse's registration statements,
quarterly reports on Form 10-Q and annual report on Form 10-K, are
"forward-looking'' statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act'').
Forward-looking statements include statements that are predictive
in nature, which depend upon or refer to future events or
conditions, which include words such as "expects," "anticipates,''
"intends,'' "plans,'' "could," "might," "believes,'' "seeks,"
"estimates'' or similar expressions. In addition, any statements
concerning future financial performance (including future revenues,
earnings, or growth rates), ongoing business strategies or
prospects, and possible future actions, which may be provided by
Cineverse's management, are also forward-looking statements as
defined by the Act. Forward-looking statements are based on current
expectations and projections about future events and are subject to
various risks, uncertainties, and assumptions about Cineverse, its
technology, economic and market factors, and the industries in
which Cineverse does business, among other things. These statements
are not guarantees of future performance, and Cineverse undertakes
no specific obligation or intention to update these statements
after the date of this release.
For additional information, please contact:
For Media
The Lippin Group for Cineverse
cineverse@lippingroup.com
At Cineverse
Julie
Milstead
424-281-5411
investorrelations@cineverse.com
The Equity Group Inc.
Carolyne
Sohn
408-538-4577
csohn@equityny.com
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SOURCE Cineverse Corp.