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0.135122628412772 0.0950177387012186 0.212555915471232 0.249421564090699 0.400123399660651 0.545426500077125 0.496220885392565 0.365262995526763
Stock impact report

Cinedigm’s Largest Stockholder Converts $15 Million of Convertible Debt into Common Stock at $1.50 Per Share

Cinedigm Corp - Class A (CIDM) 
Last cinedigm corp - class a earnings: 2/13 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.cinedigm.com
Company Research Source: Business Wire
Move Significantly Reduces Cinedigm’s Overall Debt and Interest Expense LOS ANGELES--(BUSINESS WIRE)--Cinedigm (NASDAQ: CIDM) announced today an agreement to convert an aggregate of $15 million in convertible note debt to common equity at $1.50 per share in accordance with the terms of the debt. The two convertible notes being converted are currently held by Global Investment SPC-Bison Global No. 1 SP and MingTai Investment LP. The notes have a principal amount of $10 million with an annual interest rate of 5.0% and a principal amount of $5 million with an annual interest rate of 8.0%. Both firms are affiliates of Peixin Xu, the Chairman of Bison Capital Holding Company Limited, which is indirectly Cinedigm’s largest stockholder.“This conversion of $15 million in debt to equity significantly strengthens our balance sheet and greatly reduces our annual interest expense,” said Chris McGurk, Cinedigm Chairman and CEO. “This is not only a very strong step forward for us financially, it Show less Read more
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