Cineverse unit secures term loan up to 3.13 million from BondIt LLC for Pan’s Labyrinth re-release
CNVS•Loan agreement for Pan’s Labyrinth re-release
- Cineverse unit Cineverse Pans entered a loan and security agreement with BondIt on Aug. 31, dated Aug. 28.
- Term loan principal up to USD 3.13 million; maturity Oct. 26, 2027.
- Minimum interest commitment USD 179,000 through the seven-month anniversary; monthly interest 1.39% thereafter.
- Proceeds target Pan’s Labyrinth re-release costs, 3D conversion, reimbursement of licensor advances, partial paydown of East West Bank facility.
- Loan secured by first-priority rights in the film and distribution agreements; Cineverse guarantee capped at USD 2.34 million, subordinated to East West Bank.
- Post-repayment royalty of 11.25% of specified receipts until BondIt receives up to 1.75x principal and interest paid.
