secwatch.observer — SEC 8-K summary
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Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001104659-24-049120
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cumulus Media amends exchange offer: 6.75% notes for 8% notes due 2029, extends deadline to May 1
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- Issuer offers $940 principal of new 8% notes due 2029 per $1,000 of old 6.75% notes due 2026; maturity extended to July 2029.
- Transaction Support Agreement with holders of ~80% of Old Notes and ~97% of Old Term Loans; 1% PIK fee for supporting group.
- Amended expiration time extended to midnight May 1, 2024; withdrawal deadline extended to April 22, 2024.
- Exchange offer now subject to minimum 95% tender condition (waivable); as of April 18, ~$15M (4.4%) of Old Notes tendered.
- Concurrent Term Loan Exchange Offer for Old Term Loans; both exchanges conditioned on each other.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000110465924049120/0001104659-24-049120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000110465924049120/tm2412039d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-049120

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