Redbox Entertainment Inc. (RDBX) in New York City operates a network of more than 38,000 self-service kiosks across the United States, wherein customers can rent or purchase DVDs or Blu-ray discs. It also operates a film distribution label subsidiary Redbox Entertainment, LLC, ad-supported transaction service Redbox Free On Demand, and ad-supported television service Redbox Free Live TV, among others.
RDBX went public through a reverse merger on Oct. 25, 2021, with blank-check company Seaport Global Acquisition Corp. The merged company had an enterprise value of $693 million. RDBX raised $209 million in cash from the business combination, which it planned to use to reduce existing debt and fund business expansion, content acquisition, and marketing initiatives.
