Beasley Broadcast Group, Inc. announces the settlement of its previously announced exchange of the company’s existing 8.625% Senior Secured Notes due 2026, cash offer to purchase up to $68.0 million of Existing Notes at a purchase price of 62.5% and new notes offer of $30.9 million aggregate principal amount
of 11.000% Superpriority Senior Secured Notes due 2028. Holders of approximately $194.7 million of Existing Notes participated in the Exchange Offer, exchanging their Existing Notes into 9.200% Senior Secured Notes due August 1, 2028 at an exchange ratio of 95.0%; a pro rata share of 179,384 shares of Class A Common Stock of the company and a consent fee of $5.00 per $1,000 principal amount of Existing Notes tendered. Additionally, as part of the Tender Offer, the company purchased $68.0 million of aggregate principal amount of Existing Notes at a purchase price of 62.5% plus accrued and unpaid interest. The Company also issued $30.9 million of New Notes in the New Notes Offer.
