Neon Secures $200+ Million Credit Facility To Bolster Core Operations, Expand Into New Markets

deadline.com:

Neon said today it’s closed a $200 million-plus credit facility led by Comerica Bank. The funding, which follows the leading indie distributor and producer’s previous facility with Comerica from October of 2022, will be used to bolster core operations, including film acquisition, development, production, and distribution, while also expanding into new markets.

The investment will further support strategic initiatives and strengthen its international footprint, driving additional growth.

The deal, which was negotiated and managed by Neon’s CFO Ryan Friscia, comes after the company recently released Anora, the highly-anticipated new film from Sean Baker starring Mikey Madison, which won the Palme d’Or in Cannes and opened Stateside October 18 to the highest per-screen average of 2024; Osgood Perkins’ horror film Longlegs which is the highest grossing independent film of the year at $75 million domestically; and Immaculate starring Sydney Sweeney.

Last week, NEON won studio of the year at the 2024 Clio Entertainment Awards, making it the first indie to receive that honor. “Comerica believes in the vision of NEON and couldn’t be more thrilled to support their continued growth.