Image Entertainment Inc. (DISK) announced that it closed the sale of 22 thousand shares of newly authorized Series B Cumulative Preferred Stock and 196,702 shares of Series C Junior Participating Preferred Stock to certain affiliates of JH Partners, LLC for an aggregate purchase price of $22.0 million. The transaction resulted in affiliates of JH Partners acquiring control of Image Entertainment.
After payment of a transaction fee, reimbursement of expenses and other transaction-related expenses, Image expects to receive net proceeds of approximately $19 million.
Image used $15.0 million of the net proceeds, along with the issuance of 3.5 million shares of common stock, to repay in full and retire its senior secured convertible note due 2011. The company said it will use the remainder of the net proceeds to repay other outstanding indebtedness and outstanding liabilities and for general working capital.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.