Relativity Media Secures $100 Million in New Financing

BEVERLY HILLS: Relativity Media has raised in excess of $100 million in new financing in anticipation of its emergence from chapter 11 in February.

The company has secured additional commitments from current investors including Macquarie Bank, Joseph Nicholas and Ryan Kavanaugh, as well as Carey Metz, chief investment officer of Atorus Investment Management, and new investors such as TomorrowVentures, Carat Global and VII Peaks Capital.

The new financing is separate from the approximately $180 million in Relativity senior debt acquired by Kavanaugh and Nicholas during the course of the company’s chapter 11 process. This financing is in addition to the post-emergence ultimates facility, an asset-backed facility being syndicated by GHL & Company and Aperture Media Partners. Also, since Carat Global has agreed to extend credit to Relativity for its P&A capital, Relativity’s debt need is “much less than expected,” the company said.

Kavanaugh said: “With the total financing commitments now successfully in place, we remain focused on emerging from chapter 11 and moving forward with our robust slate of films and our continued evolution as a 360-degree content engine.”