XML 66 R52.htm IDEA: XBRL DOCUMENT v3.23.2
Subsequent Events (Details)
$ / shares in Units, $ in Thousands
12 Months Ended
Jun. 28, 2023
Jun. 14, 2023
USD ($)
$ / shares
shares
Jun. 09, 2023
USD ($)
shares
Jun. 01, 2023
shares
May 30, 2023
Apr. 04, 2023
USD ($)
Vote
$ / shares
shares
Mar. 31, 2023
shares
Jun. 12, 2023
USD ($)
May 05, 2023
USD ($)
Mar. 31, 2022
shares
Revolving Credit Facility [Member] | East West Bank [Member]                    
Subsequent Event [Line Items]                    
Line of credit, maturity date             Sep. 15, 2023      
Class A Common Stock [Member]                    
Subsequent Event [Line Items]                    
Common stock, shares authorized             275,000,000     275,000,000
Subsequent Event [Member]                    
Subsequent Event [Line Items]                    
Reverse stock split description     1:20 reverse stock split              
Reverse stock split     0.05              
Sale of common stock under securities purchase agreement   2,150,000                
Warrants to purchase common stock, shares   2,666,667                
Combined purchase price per share | $ / shares   $ 3.00                
Aggregate gross proceeds from equity financing | $   $ 8,000                
Exercise price per share | $ / shares   $ 3.00                
Warrants expiration term   5 years                
Pre-funded warrants to purchase common stock   516,667                
Pre-funded warrants exercise price | $ / shares   $ 0.001                
Subsequent Event [Member] | Revolving Credit Facility [Member] | East West Bank [Member]                    
Subsequent Event [Line Items]                    
Line of credit, maturity date Sep. 15, 2024                  
Subsequent Event [Member] | Channel Development, Management and Distribution Agreement [Member] | Sid & Marty Krofft Pictures [Member]                    
Subsequent Event [Line Items]                    
Initial advance commitment, recoupable against future revenue | $                 $ 1,300  
Subsequent Event [Member] | Terrifier 3 [Member]                    
Subsequent Event [Line Items]                    
Initial commitment owed | $               $ 1,500    
Maximum commitment payable on success of project | $               $ 5,200    
Subsequent Event [Member] | Class A Common Stock [Member]                    
Subsequent Event [Line Items]                    
Reverse stock split description         On May 30, 2023, a Special Meeting of Stockholders of Cineverse was held to approve an amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's Class A Common Stock, subject to the Board's discretion and to reduce the total number of Class A Common Stock authorized for issuance in connection with the reverse stock split. On June 1, 2023, the Company's Board of Directors authorized a 1-for-20 reverse stock split of its Class A Common Stock and all related outstanding awards. The authorized shares remained unchanged from 275 million shares. The par value of the Class A Common Stock was unchanged. As a result, each shareholder’s percentage ownership interest in the Company and proportional voting power remained unchanged. In accordance with ASC Topic 505, Equity, the Company has retroactively reflected this change within the share and per-share amounts disclosed throughout this document. Refer to the Shareholders' Equity footnote within these financial statements for additional information.Terrifier 3On June 12, 2023, the Company announced that it had acquired the North American rights to Terrifier 3. At contract signing, $1.5 million was owed and based on the success of the project, the Company's commitment can reach $5.2 million. By the terms of the agreement, these commitments are recoupable based on the revenue generated by the project.          
Reverse stock split       0.05            
Common stock, shares authorized       275,000,000            
Subsequent Event [Member] | Series B Preferred Share [Member] | Chief Executive Officer And Chairman [Member]                    
Subsequent Event [Line Items]                    
Preferred stock, par value (in Dollars per share) | $ / shares           $ 0.001        
Number of preferred shares purchased           1        
Number of votes | Vote           1,800,000,000        
Preferred Stock, Redemption Amount | $     $ 10,000     $ 10,000        
Number of outstanding preferred stock redeemed     1