Beasley Broadcast Group Announces Expiration of Exchange Offer, Tender Offer and Consent Solicitation and Acceptance of Approximately 98.4% of Outstanding Notes

NAPLES, Fla., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (the “Company”), a multi-platform media company, today announces the expiration and final results of its previously announced offers (the “Offers”) including (i) an exchange offer (the “Exchange Offer”) of the Company’s existing 8.625% Senior Secured Notes due 2026 (the “Existing Notes”), (ii) a cash offer to purchase up to $68.0 million of Existing Notes at a purchase price of 62.5% (the “Tender Offer”), (iii) a new notes offer (the “New Notes Offer”) of $30.0 million aggregate principal amount of 11.000% Superpriority Senior Secured Notes due August 1, 2028 (the “New Notes”), and (iv) the solicitation of consents (the “Consent Solicitation”) of the terms and conditions set forth in the Exchange Offer Memorandum (the “Exchange Offer Memorandum”).

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