Beasley Broadcast Group (BBGI) agreed to sell shares alongside private warrants for approximately $5.0 million in expected gross proceeds. A single institutional investor will buy 357,000 Class A shares, or common stock equivalents instead, at $14.00 each in the registered direct offering. The concurrent private placement covers warrants to buy up to 357,000 Class A shares at $15.00 each. The warrants first become exercisable six months after issuance and expire five and a half years after issuance.
Closing is expected on or about September 30, 2026, subject to customary closing conditions. The proceeds estimate precedes placement agent commissions and other offering expenses. Beasley intends to use net proceeds to reduce borrowings under its secured asset-based revolving credit facility and redeem part of Beasley Mezzanine Holdings' 11.000% Senior Secured First Lien Notes due 2028 at a redemption price of 100.000% plus accrued interest.