Cinedigm Corp.
15.7.2021 15:21:39 CEST | ACCESS Newswire | Press release
Company Now Has Completely Eliminated All Debt Balances
LOS ANGELES, CA / ACCESSWIRE / July 15, 2021 / Cinedigm (NASDAQ:CIDM), the leading independent streaming company super-serving enthusiast fan bases, announced today that the Company has paid off the remainder of its Prospect Digital Cinema loan in the amount of approximately $3.5 Million, effective July 9, 2021. Revenue from the sale of certain digital cinema equipment enabled the debt reduction and balance sheet improvement.
To view this piece of content from www.accesswire.com, please give your consent at the top of this page."With this final payoff of our non-recourse loan from Prospect, we are now completely debt free," said Gary Loffredo, President, Chief Operating Officer & General Counsel of Cinedigm. "We reduced our debt balance to zero from almost $49 Million at the end of the last fiscal year. Our strong debt-free balance sheet sets us up to support our rapidly growing streaming business and accretive acquisition roll up strategy."
About Cinedigm:
For more than twenty years, Cinedigm (NASDAQ: CIDM) has led the digital transformation of the entertainment industry. Today, Cinedigm entertains hundreds of millions of consumers around the globe by providing premium content, streaming channels and technology services to the world's largest media, technology and retail companies. For more information, visit http://www.cinedigm.com/.
Cinedigm uses, and will continue to use, its website, press releases, SEC filings, and various social media channels, including Twitter (https://twitter.com/cinedigm), LinkedIn https://www.linkedin.com/company/cinedigm/), Facebook (https://facebook.com/Cinedigm), StockTwits (https://stocktwits.com/CinedigmCorp) and the Company website (www.cinedigm.com) as additional means of disclosing public information to investors, the media and others interested in the Company. It is possible that certain information that the Company posts on its website, disseminated in press releases, SEC filings, and on social media could be deemed to be material information, and the Company encourages investors, the media and others interested in the Company to review the business and financial information that the Company posts on its website, disseminates in press releases, SEC filings and on the social media channels identified above, as such information could be deemed to be material information.
PRESS CONTACT FOR CIDM:
High Touch Investor Relations
Cinedigm@htir.net
SOURCE: Cinedigm Corp.
View source version on accesswire.com:
https://www.accesswire.com/655587/Cinedigm-Announces-Approximately-35-Million-in-Debt-Reduction-with-Final-Payoff-of-Non-Recourse-Loan-from-Prospect-Capital-Corporation
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
U.S. Polo Assn. Expands Collegiate Partnership Program to Record 70 Teams for 2026 Season5.3.2026 13:00:00 CET | Press release
WEST PALM BEACH, FLA. / ACCESS Newswire / March 5, 2026 / U.S. Polo Assn., the official sports brand of the United States Polo Association (USPA), proudly announces the continued expansion of its Collegiate Partnership Program (CPP) for the 2026 season and academic year. Now in its eighth consecutive year, the program reaches a historic milestone by supporting 70 collegiate teams across 31 universities nationwide, the largest number of teams ever participating in the program.U.S. Polo Assn.'s Collegiate Partnership Program featuring the California Polytechnic State University Women's and Men's Polo Teams Photo Credit: California Polytechnic State University Polo Teams U.S. Polo Assn. will outfit hundreds of student-athletes from coast to coast, including small private and large public institutions, Ivy League Universities, and Historically Black Colleges and Universities (HBCUs). The CPP supports 35 women's and 35 men's teams, reinforcing U.S. Polo Assn.'s long-standing commitment to g
British Library Selects Preservica for Large-Scale Digital Preservation Program4.3.2026 15:00:00 CET | Press release
OXFORD, UK AND BOSTON, MA / ACCESS Newswire / March 4, 2026 / Preservica, the leader in AI-powered Active Digital Preservation™, today announced that it has been selected by the British Library to provide a Digital Preservation Repository solution and project implementation services to support the long-term preservation and management of the Library's extensive, petabyte- scale digital collections. Following a formal procurement and evaluation process, Preservica will deliver a secure, cloud-based Digital Preservation platform to support the continuous acquisition, management, and long-term preservation of the Library's diverse and expanding digital collections - including e-books, e-journals, sound recordings, UK websites, eTheses, digitised heritage materials and more - strengthening its ability to safeguard digital content for future generations. "Robust and secure Digital Preservation is essential for the effective custodianship, management and long-term readability of modern digit
Accu-Time Systems Announces Strategic Integration with Connecteam for Seamless Workforce Management4.3.2026 15:00:00 CET | Press release
The collaboration brings enterprise-grade stride80 time clocks to the Connecteam ecosystem, offering businesses a unified solution for high-accuracy attendance and real-time data sync. BOSTON, MASSACHUSETTS / ACCESS Newswire / March 4, 2026 / Accu-Time Systems (ATS), a leading provider of employee time collection solutions, today announced a strategic partnership with Connecteam, the all-in-one platform for managing distributed workforces. This collaboration integrates Connecteam's workforce management system with Accu-Time Systems' stride80 employee time clocks-delivering a unified, accurate, and secure way to collect employee time for payroll processing. Through this integration, employee punches recorded on stride80 time clocks are automatically transmitted to Connecteam's time tracking system in real time. The result is a streamlined data flow that eliminates manual entry, reduces payroll errors, and saves organizations valuable administrative time. "By integrating Connecteam's pla
Formerra Appoints Tom Kelly as Chief Executive Officer4.3.2026 14:00:00 CET | Press release
CLEVELAND, OHIO / ACCESS Newswire / March 4, 2026 / Formerra, LLC ("Formerra"), a leading distributor of engineered thermoplastic resins, additives, elastomers, and other specialty materials, today announced the appointment of Tom Kelly as Chief Executive Officer ("CEO"). A seasoned executive with over 30 years of specialty and engineered materials experience, Tom is known for leading teams to drive differentiated growth and building high-performing organizations set up for long-term success. The former CEO, Cathy Dodd, will stay on as Special Advisor to the Board and will remain an investor in the Company. Tom brings extensive commercial, supply chain, and distribution experience with a strong background in scaling global enterprises in the engineered materials sector. After previous roles at Cabot Microelectronics and Chemtura, Tom's most recent role was Senior Vice President of Engineered Materials at Celanese, where he led key commercial and operational initiatives across engineere
New GTDC Research Details Distribution's Influence on AI, Cloud and Hyperscaler Sales and Adoption3.3.2026 16:00:00 CET | Press release
IT distributors have become digital ecosystem orchestrators that unify cloud, AI, hyperscaler, and subscription-based business models. Distribution significantly accelerates vendor growth while reducing risk, allowing suppliers to scale efficiently, expand partner bases, enter new markets and mitigate financial and operational liabilities. Digital platforms are creating a new GTM "operating system". These systems offer end-to-end digital commerce and intelligence layers to manage procurement, billing, lifecycles and analytics. TAMPA, FL / ACCESS Newswire / March 3, 2026 / The Global Technology Distribution Council (GTDC), the world's largest consortium of technology distributors, has released a new research report, Distribution: The Digital Force Multiplier. Developed by CommCentric Solutions, this study examines how IT distribution has transformed and continues to evolve into a critical enabler of cloud, artificial intelligence (AI), hyperscaler and platform-driven business models acr
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom