Cumulus Media extends exchange offer for 2026 notes to Apr 9; $15M tendered

CUMULUS MEDIA INC

Extension to April 9, 2024; Early Tender Period ended March 18, so only $770 New Notes per $1,000 Old Notes.
$15M aggregate principal amount of Old Notes validly tendered as of April 2.
Old Notes (6.750% due 2026) exchanged for new 8.750% Senior Secured First-Lien Notes due 2029.
Higher coupon and longer maturity likely to increase interest expense if exchange succeeds.
Withdrawal deadline expired March 11; Issuer may further extend or terminate at its discretion.

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