Beasley Broadcast Group ( (BBGI) ) has provided an announcement.
Beasley Broadcast Group, Inc. announced a multifaceted refinancing strategy, involving a transaction support agreement with major debt holders to exchange existing senior notes for new notes with differing terms, cash, and shares. The exchange aims to restructure about 73% of the current debt, offering new senior secured notes due in 2028, cash payments, and a proportion of company stock, while also soliciting consents for proposed amendments to governance terms. These maneuvers are part of Beasley’s broader plan to enhance its balance sheet and position itself for future success.
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