The Benchmark Company Announces Closing of $8 Million Registered Direct Offering for Cinedigm Corp.
Cinedigm intends to use the net proceeds from the offering for general corporate purposes.
NEW YORK, May 26, 2020 (GLOBE NEWSWIRE) -- 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 [email protected].
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 Stern
Managing Director, Institutional Equities & Corporate Services
150 East 58th Street 17th Floor | New York, New York 10155
D: 212-312-6747 | [email protected]
Member FINRA/SIPC
