$CIDM Cinedigm’s Largest Stockholder Converts $15 Million of Convertible Debt into Common Stock at $1.50 Per Share On September 11, 2020, Cinedigm announced an agreement to convert an aggregate of $15 million in convertible note debt to common equity at $1.50 per share in accordance with the terms of the debt. "This conversion of $15 million in debt to equity significantly strengthens our balance sheet and greatly reduces our annual interest expense," said Chris McGurk, Cinedigm Chairman and CEO. "This is not only a very strong step forward for us financially, it is also a very positive affirmation of the value of our equity by Bison Global and MingTai Investment LP." A strengthened balance sheet will improve Cinedigm’s profitability and pave the way for new opportunities," said Peixin Xu, Chairman, Bison Capital. "We will continue to support Cinedigm as the Company rapidly builds out its streaming channel portfolio and global OTT footprint." Source: finance.yahoo.com/news/cine...