Cineverse Corp. announced the acquisition of IndiCue, Inc. for $22.0 million and the concurrent issuance of $13.0 million in convertible notes to fund the transaction. The company also reported preliminary Q2 FY2026 revenue of $15–$17 million and preliminary Adjusted EBITDA of $2.0–$3.0 million.
Key takeaways
Cineverse entered into a definitive agreement to acquire IndiCue, Inc. for $22,000,000, consisting of $12,800,000 in cash and $9,200,000 in deferred consideration payable in cash or stock.
The Company secured $13,000,000 in aggregate principal amount of convertible notes with a 9% interest rate and four-year maturity to fund the acquisition.
Preliminary unaudited revenue for the three months ended December 31, 2025 is expected to be approximately $15 million to $17 million.
Preliminary unaudited Adjusted EBITDA for the three months ended December 31, 2025 is expected to be approximately $2.0 million to $3.0 million.
The convertible notes are convertible into shares of Class A Common Stock at a conversion price not less than the Nasdaq Minimum Price.
The acquisition is expected to close on or about February 13, 2026.