Cinedigm Announces Closing of Underwritten Public Offering
WOODLAND HILLS, CA and NEW YORK, NY -- (Marketwire) -- 04/25/12 -- Cinedigm Digital Cinema Corp. (NASDAQ: CIDM), the global leader in digital cinema, announced today it closed an underwritten public offering of 7,857,143 shares of common stock, including 714,286 shares pursuant to the underwriters' over-allotment option, at a price to the public of $1.40 per share. The Company plans to use the approximately $10.2 million in net proceeds for working capital, acquisitions and general corporate purposes.
In connection with the offering, B. Riley & Co., LLC acted as sole book-running manager, with Merriman Capital acting as co-manager.
Cinedigm is a leader in providing the services, experience, technology and content critical to transforming movie theaters into digital and networked entertainment centers. The Company partners with Hollywood movie studios, independent movie distributors, and exhibitors to bring movies in digital cinema format to audiences across the country. Cinedigm's digital cinema deployment organization, state of the art distributor and exhibition software, and marketing and distribution platform for alternative content and independent films are a cornerstone of the digital cinema transformation. Cinedigm and Cinedigm Digital Cinema Corp are trademarks of Cinedigm Digital Cinema Corp www.cinedigm.com
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