---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-041592"
form_type: "8-K"
ticker: null
cik: "0001067837"
company_name: "AUDACY, INC."
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T21:38:21.760522+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Audacy bankruptcy court confirms prepackaged plan to equitize $1.6B debt, cancel equity

## Summary
- Plan will equitize approximately $1.6B of funded debt, reducing total debt from ~$1.9B to ~$350M (80% reduction).
- Existing Class A and Class B common stock (4,862,027 and 134,839 shares) cancelled with no distribution.
- New common stock issued to DIP, first lien, and second lien holders; no public listing or SEC reporting planned.
- Effective date subject to FCC approval; post-emergence board includes David Field and six creditor-nominated members.

## SEC filing metadata
- accession: 0001193125-24-041592
- form_type: 8-K
- cik: 0001067837
- company_name: AUDACY, INC.
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1067837/000119312524041592/0001193125-24-041592-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1067837/000119312524041592/d783622d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-041592
- JSON: https://secwatch.observer/filing/0001193125-24-041592.json
- Plain text: https://secwatch.observer/filing/0001193125-24-041592.txt

## Key facts
- Distress & Bankruptcy
  AUDACY, INC. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2024-01-07).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the Southern District of Texas
  - Petition: 2024-01-07
  source text: On January 7, 2024 (the “ Petition Date ”), the Debtors filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code and commenced their chapter 11 cases (the “ Chapter 11 Cases ”) in this United States Bankruptcy Court for the Southern District of Texas (this “ Court ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524041592/0001193125-24-041592-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.