Beasley Broadcast settles debt offers, exchanging $184M notes for 2027 PIK Notes and buying $15.9M first lien notes.

Beasley Broadcast Group completed its debt restructuring by exchanging approximately $184 million of its 9.2% Senior Secured Second Lien Notes due 2028 for $98.5 million of 2027 PIK Notes. Additionally, it purchased $15.9 million of its 11% Senior Secured First Lien Notes due 2028 in a cash tender offer, leaving $15 million of these notes outstanding. This move aims to improve the company's debt profile and financial flexibility. The transaction was supported by a majority of noteholders and involved legal and financial advisors to facilitate the process.