This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cinedigm Announces Closing Of Underwritten Public Offering

Stocks in this article: CIDM

Cinedigm Digital Cinema Corp. (NASDAQ:CIDM),a global leader in digital cinema, announced today it closed an underwritten public offering of 3,780,718 shares of common stock, at a price to the public of $1.38 per share. The Company plans to use the approximately $4.8 million in net proceeds for the acquisition of library and film content, marketing and distribution expenses related to its growing slate of films, the launching of over-the-top entertainment channels, and for general corporate purposes.

In connection with the offering, Merriman Capital, Inc. and National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (OTCBB: NHLD), acted as joint book runners.

“While we continue to rapidly grow our content distribution business, we have targeted a number of new high potential content acquisition opportunities that can be tapped at an attractive rate of return to investors,” said Chris McGurk, Chairman and CEO. “As we head toward the busy fall film acquisition season and pursue a number of library acquisitions in front of us, we believe this equity raise will continue our positive momentum in Fiscal 2014. Additionally, if the early reviews, accolades and awards are any indication, our August release of SHORT TERM 12 has the potential to be a significant event for us and we must be poised to support the film’s success. Finally, on the OTT channel front, it’s important that we move quickly to establish ourselves as a key player in this high potential and rapidly evolving business.”

“In the last 12 months we have released 10 films, 5 in the last quarter alone, and the upfront acquisition and marketing costs associated with those releases have yet to be recouped as it takes roughly 6-12 months to recycle our initial content investments," said Adam Mizel, Chief Operating Officer and CFO. “Based on our slate of profitable acquisitions to date, we have concluded that the accretive opportunities in front of us currently merit this raise as we expect to grow our content revenues over 200%+ this year and that takes capital – plain and simple. As we recycle our content investments and continue to develop our track record in the coming months, our goal for the future is to utilize other non-equity sources to fund our working capital.”

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs