Beasley Broadcast announces 1-for-20 reverse stock split

Beasley Broadcast announced that its Board of Directors has approved a reverse stock split of its Class A Common Stock and Class B Common Stock at a ratio of 1-for-20. Stockholders previously approved the reverse stock split on August 26, 2024 and provided the Board with discretion to determine the final reverse stock split ratio. The reverse stock split is being conducted to regain compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.