SCHEDULE 13G/A: Corsair Capital Management and Affiliates Disclose 5.9% Passive Stake in Cineverse Corp.

Corsair Capital Management, along with its affiliated entities and controlling persons, has filed an amended Schedule 13G disclosing a collective passive beneficial ownership of 5.9% in Cineverse Corp.'s Class A Common Stock.

Summary

• Corsair Capital Management, L.P., Corsair Capital Partners LP, Corsair Capital Partners 100 LP, Corsair Capital Investors Ltd, and individuals Jay R. Petschek and Steven Major (collectively, "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G regarding their holdings in Cineverse Corp.
• The Reporting Persons collectively beneficially own 941,744 shares of Cineverse Corp.'s Class A Common Stock.
• This collective ownership represents 5.9% of the outstanding Class A Common Stock.
• The total shares beneficially owned include 83,333 shares underlying currently exercisable warrants.
• The percentage is calculated based on 15,979,558 outstanding shares of Common Stock as of February 11, 2025, as reported in Cineverse Corp.'s Form 10-Q filed February 14, 2025, plus the exercisable warrants held by the Reporting Persons.
• Corsair Capital Partners LP individually owns 790,602 shares (4.9%), including 69,193 warrant shares.
• Corsair Capital Partners 100 LP individually owns 116,660 shares (0.7%), including 10,045 warrant shares.
• Corsair Capital Investors Ltd individually owns 34,482 shares (0.2%), including 4,095 warrant shares.
• Corsair Capital Management, as the investment manager, and Messrs. Petschek and Major, as controlling persons, are deemed to beneficially own the aggregate 941,744 shares.
• The filing indicates that the securities were not acquired or held for the purpose of changing or influencing control of Cineverse Corp., nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: A Schedule 13G filing is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the company's performance or prospects. It is a neutral regulatory update.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Informs shareholders and the market of a significant passive ownership stake by an institutional investor group.
• Provides transparency regarding the ownership structure of Cineverse Corp.'s Class A Common Stock.

Key Dates

Keywords

Cineverse Corp., Class A Common Stock, Schedule 13G, Beneficial Ownership, Corsair Capital Management, SEC Filing, Investment Management, Passive Investment, Shareholder Disclosure