The Benchmark Company Announces Closing of $8 Million Registered Direct Offering for Cinedigm Corp.
May 26 2020 - 6:38PM
The Benchmark Company announced the closing on May 22nd of a
Registered Direct Offering of 10,666,666 shares of common stock of
Cinedigm Corp. (NASDAQ: CIDM) at a purchase price of $.75 per share
priced at-the-market under Nasdaq rules for gross proceeds of $8
million.
Cinedigm intends to use the net proceeds from
the offering for general corporate purposes.
The Benchmark Company LLC and A.G.P./Alliance
Global Partners acted as co-lead placement agents for the
offering.
About Cinedigm
Since inception, Cinedigm (CIDM) has been a
leader at the forefront of the digital transformation of content
distribution. Adapting to the rapidly transforming business needs
of today’s entertainment landscape, Cinedigm remains a
change-centric player focused on providing content, channels and
services to the world’s largest media, technology and retail
companies. Cinedigm’s Content and Networks groups provide original
and aggregated programming, channels and services that entertain
consumers globally across hundreds of millions of devices. For more
information, visit www.cinedigm.com.
About The Benchmark Company
The Benchmark Company is a full-service
investment banking firm offering a suite of corporate finance,
advisory and institutional brokerage services. We were founded in
1988 and are headquartered in New York City with offices in San
Francisco, Boston, and Milwaukee. Our focus is on fostering the
long-term success of our corporate clients through raising capital,
providing strategic advisory services, generating insightful
research and developing institutional sponsorship by leveraging the
firm’s sales, trading and equity research
capabilities. https://www.benchmarkcompany.com.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-238183) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”). A copy of the final prospectus supplement
and accompanying prospectus relating to the offering will be filed
with the SEC and may be obtained, when available, for
free on the SEC's website located
at http://www.sec.gov. When available,
electronic copies of the final prospectus supplement and
accompanying prospectus relating to the offering may be obtained by
contacting The Benchmark Company, Attn: Prospectus Department, 150
E. 58th Street, 17th floor, New York, NY 10155 or by calling
212-312-6700 or by emailing prospectus@benchmarkcompany.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
For further information please
contact:
Elise SternManaging Director, Institutional Equities &
Corporate Services150 East 58th Street 17th Floor | New York, New
York 10155 D: 212-312-6747
| estern@benchmarkcompany.com
Member FINRA/SIPC
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