Urban One Announces Early Results of Exchange Offers
Urban One announces the early results of the previously announced offers to exchange any and all of the company’s outstanding 7.375% Senior Secured Notes due 2028 held by Eligible Holders for newly issued 7.625% Second Lien Senior Secured Notes due 2031, to be issued by the Company, and cash, to
purchase up to $185 million in aggregate principal amount of the Existing Notes for up to $111 million in cash and the right to subscribe to purchase up to $60.6 million in aggregate principal amount of newly issued 10.500% First Lien Senior Secured Notes due 2030. As of 5:00 pm ET yesterday (12/1), Urban One received from Eligible Holders valid and unwithdrawn tenders and related Consents, as reported by D.F. King & Co., Inc., representing approximately $450 million in aggregate principal amount of Existing Notes, or approximately 92.2% of the aggregate principal amount of Existing Notes outstanding. See the entire report from Urban One here.