Neon has closed a $200 million plus credit facility led by Comerica Bank. The funding follows the studio’s previous revolving credit facility with Comerica Bank in October 2022.
The new credit will, according to Monday’s official release, “Be allocated to bolster its 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 was negotiated and managed by the studio’s chief financial officer Ryan Friscia at the end of a year that has included “Anora,” directed by Sean Baker and starring Mikey Madison, which won the Palme d’Or at Cannes in May; and Osgood Perkins’ “Longlegs,” which became the highest-grossing independent feature of the year with more than $75 million domestically.