Cannes: FilmNation Secures $50M In New Financing - "The Rover" Mentioned

Deadline  NEW YORK – Tuesday, May 7, 2013 – Following an exponential level of growth since its inception less than five years ago, punctuated by last year’s more than $420 million in international box office, New York-based FilmNation Entertainment announced today they have successfully negotiated $50 million in additional capital with an equity-backed, revolving multi-bank credit facility with Bank Of America Merrill Lynch and Union Bank.

Supporting FilmNation’s long-term growth strategy, proceeds from the revolving line of credit will significantly contribute to the company’s goal of financing an increasing number of films. The longtime faith and support from investors Steve Samuels, Anthoni Visconsi and Dominic Visconsi played a role in securing the credit facility and continue to grant the company even greater resources. Most recently, FilmNation acquired the majority of worldwide rights to David Michôd’s THE ROVER, starring Guy Pearce and Robert Pattinson, and are co-financing Nic Mathieu’s STORY OF YOUR LIFE with Lava Bear Films. The revolving credit will also allow President of Production Aaron Ryder and his team the ability to finance, produce and acquire a greater number of films and higher budget projects for the company’s slate.