Prospect Capital provided a a $70 million term loan to support the recapitalization of subsidiaries of Cinedigm Digital Cinema Corp., the company announced. New York-based Cinedigm makes digital cinema distribution and exhibition software.
Prospect Capital Corporation PSEC -0.13% (“Prospect”) announced today that Prospect has provided a $70 million term loan to support the recapitalization of subsidiaries of Cinedigm Digital Cinema Corp. CIDM +9.49% (“Cinedigm”).
Headquartered in New York, New York, Cinedigm is a leader in the digital entertainment revolution. Cinedigm’s pioneering digital cinema deployment and servicing efforts, and its state-of-the-art distribution and exhibition software, are cornerstones of the digital cinema transformation. Cinedigm is also the leading digital aggregator of independent content in the world, providing end-to-end digital content delivery to theaters, digital and on-demand platforms, and DVD/Blu-ray. Through partnerships with iTunes, Netflix, Amazon, Google, Hulu, Vudu, Xbox, Playstation, and others, Cinedigm reaches a global digital audience. Cinedigm’s library of over 18,000 movies and television episodes includes award-winning documentaries from Docurama Films(R), next-generation independents from Flatiron Film Company(R), and acclaimed independent films and festival picks through partnerships with the Sundance Institute and Tribeca Film.
“We appreciate Prospect’s creativity with this complex transaction, which positions Cinedigm for growth in the digital entertainment marketplace,” said Adam Mizel, COO and CFO of Cinedigm.
“With our deep expertise in media and technology industries, as well as other verticals, Prospect is pleased to support Cinedigm, a market leader in its industry,” said Ted Fowler, Managing Director of Prospect Capital Management LLC. “We are interested in pursuing other large financing and investment opportunities with small-cap public companies like Cinedigm, closely held private companies, and private equity owned companies.”
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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