They don’t have a ton of cash to tap into it would appear on their balance sheet.

Selling bonds is an odd move, they don’t have any real collateral for the investors to get back their money first making it incredibly risky to hold the bond. What do you take? The original series IP and then try to sell it to a different studio?

I don’t know about this, are there other examples of tech companies with minimal physical collateral selling bonds/senior notes?