Beasley Broadcast prices warrants in private placement for 357,000 shares
BBGI•Beasley Broadcast Group priced a $5 million registered direct offering of 357,000 Class A shares at $14 each and a concurrent private placement of warrants for up to 357,000 shares, exercisable at $15. Net proceeds are earmarked for debt reduction.
1. Offering details
The warrants become exercisable six months after issuance and expire 5.5 years after issuance. The closing is expected around Sept. 30, 2026, subject to customary conditions.
2. Use of proceeds
Net proceeds are earmarked for debt reduction, including revolving credit borrowings and redemption of the company’s 11.000% Senior Secured First Lien Notes due 2028.
