Cinedigm completes stock repurchase program
Cinedigm announced the settlement in full of the shares it purchased pursuant to the previously announced forward stock purchase transaction in April 2015. Pursuant to the Forward Stock Purchase Transaction, the company purchased 1,179,138 shares of its Class A common stock from Societe Generale in order to facilitate privately negotiated derivative transactions between the Forward Counterparty and holders of the Company's 5.5% Convertible Notes due 2035, all of which were recently cancelled, as previously announced. In light of such cancellations, the Forward Counterparty has settled all of such shares earlier than the contractual settlement date of April 2020 by delivering the shares to the company. The shares have been placed in treasury and are no longer outstanding.