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The shares that will be purchased as part of the backstop agreements, along with the PIPE, will be registered for resale separately in the future. As a result, Redbox will have approximately 45.4 million shares outstanding, of which approximately 2.0 million shares will be immediately tradeable. The final number of shares redeemed totaled 12,346,223. Redbox intends to use the funds from the transaction to pay down existing debt, pay transaction costs and fees, fund future growth investments, and for general corporate purposes. The transaction, combined with a fully committed private investment in public equity (PIPE) of $50 million led by Ophir Asset Management and backstop agreements with certain funds announced on October 11, 2021, will provide Redbox with approximately $88 million in cash. The business combination was unanimously approved by the partiesвЂ™ Boards of Directors, and approved by Seaport Global AcquisitionвЂ™s stockholders at a special meeting on October 20, 2021, Redbox reported.

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Signed a distribution agreement with Vewd вЂ“ one of the worldвЂ™s largest providers of OTT and hybrid TV solutions вЂ“ to pre-load the Redbox streaming app on new and existing Vewd powered TVs and set-top boxes in the US.

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Announced it will add over 20 Free Ad Supported Television (FAST) channels to its streaming service including live local news, Spanish language, and kids programming, bringing the total number of channels available to over 100.

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Through mid-2022, consumers will receive a $5 streaming code on Roku players sold exclusively at Walmart. Signed a promotional agreement with Roku to further attract multi-platform users to the Redbox streaming app.Expanded the distribution footprint for its streaming app to the PlayStation 5 console, allowing consumers to stream thousands of Ad Supported Video on Demand (AVOD) movies and TV shows, as well as over one hundred Free Ad Supported TV (FAST) channels.Entered into a multiyear distribution agreement with Lionsgate, under which Lionsgate will distribute Redbox Entertainment titles across home entertainment windows in addition to subscription video on demand (SVOD) licensing for select titles under the Redbox Entertainment brand.And new formats like Blu-ray might not solve the issue either.

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On-demand movies and TV shows start from $3.99 for 48-hour VOD rentals, and $9.99 for digital purchases. The overall movie world is having to deal with the change in consumer habits (Smith. The new on-demand service is available through the Redbox website, or the Redbox app both on iOS and Android, as well as Apple TV, Chromecast, LG and Samsung Smart TVs, and Roku. Redbox says it averages 1 million disc rentals each day.

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It also began offering digital purchases from its kiosks recently, but earlier this month, The Wall Street Journal reported that Redbox was facing a lawsuit from Disney for selling digital download codes to the studioвЂ™s films. Redbox began testing this streaming service (its second attempt) in July 2016. 'We know consumers have a lot of choices when it comes to subscription streaming services, but no other brand is as closely associated with new-release movies as Redbox,' said Galen Smith, CEO of Redbox, in a statement. ItвЂ™s basically a competitor to iTunes and Google Play. The new films at Redbox will include: The Little Things, which premiered on HBO Max, and in theaters, on January 29. Let the Tomatometer help you find something Fresh to watch. Redbox, the disc rental kiosk service, plans to add 21 new movies this month, including three recent theatrical releases that also premiered on HBO Max. The new service isnвЂ™t like Netflix or HBO: there are no subscription fees, and customers just pay for each movie or show they rent or buy. Search for Movie and TV titles available on DVD and streaming services. By Manhattan Portage 25th Anniversary New York Messenger Bag, X-Sma 4 years. On Demand is now in public beta and will offer many of the same new-release movies and shows that are available at kiosks, the company says. Movie Night Care Package with 10.00 Card Gift Redbox 70 OFF Outlet. Redbox is best known for physical DVD and Blu-ray rentals found at its bright red kiosks. Rent & pick up new release movies on DVD, Blu-ray and 4K UHD starting at just 1.85 a night at any of the 41,000 kiosk locations Find a Kiosk nearby to browse and rent movies. Redbox has launched a new on-demand streaming service, which will allow users to buy and rent digital movies and TV shows. The Redbox app has many features that make entertainment simple, affordable, convenient and personal.

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