Cineverse Corp 8-K, filed Mar 30, 2021
Cineverse Corp. (CNVS)
About this 8-K
Cineverse Corp filed this 8-K on March 30, 2021, reporting on events of March 26, 2021.
Items reported
- Item 1.01: Entered into a material agreement
UNITED STATES
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CURRENT REPORT
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On March 26, 2021, Cinedigm Digital Funding I, LLC (“CDF I”), a wholly-owned subsidiary of Cinedigm Corp. (the “Company”), entered into an Equipment Purchase Agreement (the “Phase I Equipment Purchase Agreement)” with American Multi-Cinema, Inc. (“AMC”). Also on March 26, 2021, Access Digital Cinema Phase 2, Corp. (“ADCP2”) and Access Digital Cinema Phase 2 B/AIX Corp. (“B/AIX”), wholly-owned subsidiaries of the Company, entered into an Equipment Purchase Agreement (the “Phase II Equipment Purchase Agreement” and, together with the Phase I Equipment Purchase Agreement, the “Equipment Purchase Agreements”) with AMC. The Equipment Purchase Agreements, which are effective as of March 17, 2021, provide for the purchase by AMC of certain digital cinema equipment at certain specified dates. The aggregate consideration for the equipment being sold pursuant to the Equipment Purchase Agreements is $10,838,000. The equipment will be sold over time and the consideration will be payable in portions upon each separate sale which will occur at various dates from the date of the Equipment Purchase Agreements through January 2023. The Equipment Purchase Agreements contain representations and warranties customary for such types of agreements.
The foregoing descriptions of the Equipment Purchase Agreements are qualified in their entirety by reference to such documents, which will be filed in accordance with SEC rules and regulations.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| CINEDIGM CORP. | ||
| Dated: March 30, 2021 | By: |
/s/ Gary S. Loffredo |
| Gary S. Loffredo President, Chief Operating Officer, General Counsel and Secretary | ||