June 29, 2017 / 8:21 PM / in 4 months

BRIEF-Cinedigm says Bison Capital will take majority ownership stake in Co

June 29 (Reuters) - Cinedigm Corp:

* Bison capital to make significant strategic investment in cinedigm

* Cinedigm Corp - Bison Capital will take majority ownership stake in co

* Cinedigm Corp - agreed to sell to bison capital 20 million shares of Cinedigm’s class a common stock for an aggregate purchase price of up to $30 million

* Cinedigm -‍in advanced talks for exchange agreement with holders representing about 99% by principal amount of its 5.5% convertible senior notes due 2035

* Cinedigm Corp - upon issuance of shares, bison capital will be entitled to designate two members of company’s board of directors

* Cinedigm Corp - ‍bison capital has committed to provide company with a $10 million loan for working capital purposes within 60 days of deal closing​

* Cinedigm Corp - co and bison capital expect to work together to continue to refinance and retire remaining debt of company​

* Cinedigm Corp - proceeds from sale of shares will be used for cash portions of notes exchange Source text for Eikon: Further company coverage:

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