Oscar-winning indie studio Neon has secured a new $200 million credit facility, flushing the company with cash for operations and growth.
The infusion, which could keep “Anora” star Mikey Madison in lucite platform heels until the end of time, is led by Neon’s existing credit provider Comerica Bank. The raise will contribute to film acquisition, development, production, distribution and market expansion, Neon said Monday.
“Comerica believes in the vision of Neon and couldn’t be more thrilled to support their continued growth. Their ability to identify and curate film, while finding innovative ways to connect audiences with cinema, is unmatched,” said Comerica Entertainment Group SVP Derek Riedel, adding that the “independent film landscape is a core pillar of our business and we are excited about the future.”
Riedel oversaw the transaction for the bank, with Neon chief financial officer Ryan Friscia negotiating on the studio side.
It’s been a good year for Neon, with the breakout success of Sean Baker’s “Anora” – a very modern love story about a sex worker and the son of a Russian oligarch, whose fast romance brings big consequences. Madison is in top awards contention for her performance. The film won the coveted Palme d’Or in Cannes this year and opened limited in October to the highest per-screen average of 2024.
Neon also has cause to celebrate with “Longlegs,” a bone-chilling serial killer hunt with Nicolas Cage and Maika Monroe. The Osgood Perkins film has amassed over $125 million at the global box office. Next up is the foreign language feature awards player “The Seed of the Sacred Fig”; Joshua Oppenheimer’s starry original musical “The End” with Harris Dickinson and Tilda Swinton; and Asif Kapadia’s genre-bending doc “2073.” Neon is also currently in post on the next film from Boots Riley, “I Love Boosters.” It stars Keke Palmer, Naomi Ackie, LaKeith Stanfield, Demi Moore, Eiza González, Poppy Liu, Taylour Paige and Will Poulter.
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