Beasley Broadcast Group, Inc. entered a Transaction Support Agreement with major noteholders to pursue a comprehensive refinancing of its 2028 senior secured notes. Holders of 98.7% of the 11.000% First Lien Notes and 76.5% of the 9.200% Second Lien Notes have agreed to support the plan, subject to conditions.
The deal includes exchanging all Existing Second Lien Notes into 10.000% Senior Secured Second Lien PIK Notes due 2027 at 50% of principal and a tender offer to repurchase up to $15,899,000 of First Lien Notes at par. The new 2027 PIK Notes carry a springing maturity as early as September 30, 2027 and an equity conversion feature that can deliver up to 95% of Beasley’s fully diluted Class A and Class B equity to PIK noteholders, subject to FCC approvals and prior cash repayments. Supporting holders also gain significant governance rights, including appointment of independent directors and influence over strategic alternatives and any insolvency filing.
Beasley Broadcast Group, Inc. disclosed that its wholly owned subsidiary, Beasley Mezzanine Holdings, LLC, has elected to use a 30-day grace period instead of making scheduled interest payments due on February 1, 2026. The deferred payments total approximately $8.5 million on 9.200% senior secured second lien notes due 2028 and approximately $1.7 million on 11.000% senior secured first lien notes due August 1, 2028.
The company states this election is permitted under the note indentures and does not currently constitute an Event of Default, and that its business operations and obligations to advertisers, employees, suppliers, and other stakeholders are not impacted. Beasley is in active discussions with various stakeholders about potential alternatives to restructure its outstanding debt and improve financial flexibility, but no agreement has been reached and the timing and outcome remain uncertain.
Beasley Broadcast Group Inc. reported director-related transactions in its Class A common stock. On 12/10/2025, reporting persons tied to Brigade Capital Management, LP disclosed multiple transactions involving 34,250, 33,000 and 66,798 shares at prices including $24.97, $18.47 and a weighted average price of $11.79, with individual trade prices ranging from $11.50 to $12.13. After these transactions, 2,404 Class A shares were reported as indirectly beneficially owned. The securities are directly owned by advisory clients of Brigade Capital Management, LP, while Brigade Capital Management, LP, its general partner and Donald E. Morgan, III may be deemed beneficial owners but each disclaims beneficial ownership except to the extent of any pecuniary interest.
Beasley Broadcast Group reported an insider stock sale by company officer Shaun Greening, who is listed as CAO. On 12/10/2025, he sold 2,163 shares of Class A common stock at $20 per share. Following this transaction, he directly beneficially owned 0 shares of Beasley Broadcast Group stock.
Beasley Broadcast Group reported that its subsidiary, Beasley Mezzanine Holdings, entered into supplemental indentures for its 9.200% Senior Secured Second Lien Notes due 2028 and 11.000% Senior Secured First Lien Notes due 2028. The amendments extend the springing maturity date tied to any remaining 8.625% Senior Secured Notes due 2026 to January 31, 2026.
The changes also address past and future asset sales and provide certain flexibility to incur debt. For the first‑lien notes, new default conditions were added related to compliance with agreements with holders of a majority of those notes. For the second‑lien notes, the Issuer’s capacity to enter into a receivables facility was increased, with assets permitted to be pledged, provided proceeds are used to repay the first‑lien notes.
Beasley Broadcast Group (BBGI) reported lower results for Q3 2025. Net revenue fell to $50,977,046 (down 12.4%) as Audio declined to $38,030,320 (down 18.9%) while Digital grew to $12,946,726 (up 14.6%). Operating loss was $536,676. Net loss was $3,556,703, roughly flat year over year, aided by lower interest expense of $3,279,031 (down 46.2%).
Year to date, revenue was $152,889,222 (down 11.6%) with a net loss of $6,400,699. The company recorded $1.5M of other operating expenses tied to the ASCAP settlement accrual for 2022–2024. BBGI completed the sale of WPBB‑FM in Tampa for $8.0M, recording a $0.4M gain, and signed agreements to sell two Fort Myers station groups for $9.0M each; after closing, it will exit the Fort Myers‑Naples market. Cash was $14,336,639; total debt carrying amount was $239,966,194 including first‑ and second‑lien notes due 2028, with fair value of notes at $104.8M. Class A shares outstanding were 970,857 and Class B 833,137 as of November 3, 2025.
Beasley Broadcast Group (BBGI) furnished an 8-K announcing financial results for the fiscal quarter ended September 30, 2025. The results were released via a press release attached as Exhibit 99.1.
The information under Item 2.02, including Exhibit 99.1, is furnished under General Instruction B.2 and is not deemed filed under the Exchange Act.
Brigade Capital Management, LP and related reporting persons filed a Form 3 for Beasley Broadcast Group (BBGI), reflecting initial beneficial ownership.
The filing reports 136,452 shares of Class A common stock, held indirectly (see footnote). The event date is 10/08/2024. According to the footnote, the securities are directly owned by advisory clients of Brigade Capital Management, LP; Brigade Capital Management, LP, its general partner Brigade Capital Management GP, LLC, and Donald E. Morgan, III may be deemed beneficial owners, and each disclaims beneficial ownership except to the extent of any pecuniary interest.
Beasley Broadcast Group announced that its wholly owned subsidiary, Beasley Mezzanine Holdings, entered supplemental indentures for its 2028 notes. The change extends the springing maturity date—when all outstanding principal and accrued interest on these notes become due if the Issuer’s 8.625% Senior Secured Notes due 2026 remain outstanding—to November 14, 2025.
The updates apply to two note series: the 9.200% Senior Secured Second Lien Notes due 2028 and the 11.000% Senior Secured First Lien Notes due 2028. This adjustment refines the timing trigger tied to the remaining 2026 notes, without changing the 2028 final maturities.
Beasley Broadcast Group (BBGI) chief accounting officer filed an initial Form 3 reflecting current holdings. The reporting person directly owns 2,163 shares of Class A Common Stock. They also hold 1,000 restricted stock units, each representing the right to receive one Class A share, vesting in two equal annual installments beginning on December 31, 2025. The filing is by one reporting person in the capacity of Officer (CAO).