SAN FRANCISCO, October 24, 2013 - Merriman Capital, Inc., a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it acted as capital markets advisor for Cinedigm Corporation (CIDM), in its underwritten public offering of 7,904,340 shares of Class A common stock. Cinedigm has granted the underwriters an option for 30 days to purchase up to 1,185,650 additional shares of Class A common stock. The Company plans to use net proceeds for working capital, acquisitions and general corporate purposes.
Cinedigm`s recent acquisition of Gaiam, Inc.`s (GAIA) entertainment unit, known as "GVE," for $51.5 million, subject to a working capital adjustment, positions the Company as the market leader for independent film, TV and digital content distribution on every key entertainment platform, retailer and device across theatrical, the home and mobile. This accretive acquisition is expected to add more than $15 million of annual EBITDA to Cinedigm`s financial results. The acquisition and related financings closed on October 21, 2013. Merriman Capital acted as capital markets advisor for the equity offering and Blackstone Advisory Partners, L.P. acted as financial advisor to the Company in connection with the acquisition of GVE.
Over the past decade, Cinedigm has led the digital distribution revolution that continues to transform the media landscape. In addition to its pioneering role in transitioning movie theatres from traditional film prints to digital distribution, Cinedigm continues to advance worldwide cinema modernization with its suite of software products allowing exhibitors and distributors to manage their newly digital businesses with efficiency, insight and certainty. And, as the leading distributor of independent content in the world, Cinedigm collaborates with producers and the exhibition community with unequalled transparency to market, source, curate and distribute quality content across all digital platforms to targeted and profitable audiences.
Current and upcoming CEG releases include Destin Daniel Cretton`s SHORT TERM 12, Godfrey Reggio`s VISITORS, Penny Lane`s OUR NIXON and Shaul Schwarz`s NARCO CULTURA.
Cinedigm(TM) and Cinedigm Digital Cinema Corp(TM) are trademarks of Cinedigm Corp www.cinedigm.com. [CIDM-E]
About Merriman Capital, Inc.
Merriman Capital, Inc. is a corporate advisory-focused registered investment bank that provides equity and options execution services and differentiated research for high growth companies. The firm also provides capital formation, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. and is the leading investment banking firm for unique high-growth companies. For more information, please go to http://www.merrimanco.com.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on August 14, 2013. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on August 14, 2013, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
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At the Company:
Head of Capital Markets Advisory Group
Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc.
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Source: Merriman Holdings Inc. via Thomson Reuters ONE