Cineverse Expands Existing Line of Credit Facility with East West Bank to $15 Million with a Three-Year Term
Cineverse Corp. (Nasdaq: CNVS) ("Cineverse", "us", "our", "we", and the "Company"), a next-generation entertainment studio, today announced that it has expanded the size of its existing line of credit facility with Pasadena-based East West Bank from $7.5 million to $12.5 million, expandable to $15 million, and extended the term from one-year to three-years at an interest rate of Prime plus 1.25% (8.75% currently with a $0 current balance).