Beasley Broadcast Group Announces Settlement of Previously Announced Exchange Offer and Tender Offer

Core Viewpoint - Beasley Broadcast Group, Inc. has successfully completed an exchange offer for its existing senior secured notes, alongside a cash tender offer and a new notes issuance, aimed at restructuring its debt and improving financial flexibility [1][2]. Group 1: Exchange Offer Details - Approximately $194.7 million of existing notes were exchanged for new 9.200$5.00 per $1,000 principal amount of existing notes tendered [2]. - The company exercised an option to increase the cash paid to exchanging holders by a pro rata portion of$700,000, from a total of $3.0 million available for this purpose [3]. Group 2: Tender Offer and New Notes - The company purchased$68.0 million of existing notes at a purchase price of 62.5% plus accrued and unpaid interest as part of the tender offer [2]. - A total of $30.9 million of new superpriority senior secured notes due 2028 were issued in the new notes offer [1][2]. Group 3: Support and Legal Counsel - A supporting holder, representing approximately 73% of existing notes, agreed to backstop the new notes offer and waived the minimum participation condition for the exchange offer [4]. - Latham & Watkins LLP served as legal counsel to the company, while Moelis & Company LLC acted as the exclusive financial advisor and dealer manager [4].