URBAN ONE, INC. ANNOUNCES EARLY RESULTS OF OFFERS AND CONSENT SOLICITATION

Core Viewpoint - Urban One, Inc. has initiated offers to exchange and purchase its outstanding 7.375% Senior Secured Notes due 2028, with significant participation from Eligible Holders, indicating strong interest in the restructuring of its debt obligations [1][2]. Group 1: Offers Overview - The company announced three main offers: an Exchange Offer for existing notes, a Tender Offer to purchase up to $185 million of existing notes for cash, and a Subscription Offer for newly issued notes [1]. - The Exchange Offer involves exchanging existing notes for newly issued 7.625% Second Lien Senior Secured Notes due 2031 and cash [1]. - The Subscription Offer allows Eligible Holders to purchase up to $60.6 million in newly issued 10.500% First Lien Senior Secured Notes due 2030 [1]. Group 2: Participation and Tender Results - As of the Early Tender Date, approximately $450 million in existing notes, or about 92.2% of the total outstanding, were tendered by Eligible Holders [2]. - The Tender Offer was oversubscribed, with more existing notes tendered than the $185 million cap, leading to proration for accepted notes [3][13]. - Eligible Holders who participated in the Exchange Offer and Tender Offer received specific cash and exchange considerations based on their participation type [9][12]. Group 3: Consent Solicitation and Amendments - The company received the necessary consents from Eligible Holders to adopt proposed amendments to the indenture governing the existing notes, which include eliminating restrictive covenants and modifying default provisions [5]. - The proposed amendments will take effect only upon the successful completion of the Exchange Offer and Tender Offer [6]. Group 4: Key Dates and Conditions - The Offers and Consent Solicitation will expire on December 15, 2025, unless extended or terminated earlier [8]. - Eligible Holders must tender all existing notes they hold to participate in the Offers, and partial tenders will not be accepted [8]. - The consummation of the Offers is subject to certain conditions, including the performance of obligations by Supporting Noteholders [15].