Overview
- Cineverse said the transaction includes up to $18 million tied to future performance milestones, bringing potential total consideration to $40 million.
- The company raised $13 million in convertible notes to support the closing and for working capital, with a four-year term at 9% interest and the notes convertible into common stock.
- Shares rose about 15% in early trading after the announcement, according to Deadline.
- Cineverse forecasts fiscal 2027 revenue of $115–$120 million with technology platforms contributing more than half, while IndiCue is projected to generate about $38 million in revenue and $9.6 million in EBITDA in 2026.
- IndiCue, founded in 2023, brings 100+ customers in various stages of onboarding and its founding team and senior leaders are joining Cineverse in new roles.