---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-229306"
form_type: "8-K"
ticker: null
cik: "0001067837"
company_name: "AUDACY, INC."
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-30T22:59:10.975011+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Audacy emerges from Chapter 11, equitizes $1.6B debt, and plans to go private

## Summary
- Equitized approximately $1.6B of funded debt, reducing total debt from ~$1.9B to $350M (80% reduction).
- New exit credit facility of $250M (first-out $25M, second-out $225M) plus $100M receivables facility secured.
- Old equity cancelled; issued 8.28M Class A shares, 914k Class B shares, 2.12M second lien warrants, and 807k special warrants.
- New board of seven directors appointed, including CEO David J. Field; prior board resigned.
- Company plans to suspend SEC reporting and become a private company.

## SEC filing metadata
- accession: 0001193125-24-229306
- form_type: 8-K
- cik: 0001067837
- company_name: AUDACY, INC.
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.02, 1.03, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/d753507d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-229306
- JSON: https://secwatch.observer/filing/0001193125-24-229306.json
- Plain text: https://secwatch.observer/filing/0001193125-24-229306.txt

## Key facts
- Distress & Bankruptcy
  AUDACY, INC. entered chapter 11.
  - Proceeding: chapter 11
  source text: Item 1.03. Bankruptcy or Receivership. The information set forth in the Introductory Note and Items 1.01 and 1.02 of this Current Report on Form 8-K is incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Mark R. LaNeve resigned as Director at AUDACY, INC..
  - Action: resigned
  - Role: Director
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Christy Tanner was appointed as director at AUDACY, INC..
  - Action: appointed
  source text: the following individuals were appointed directors of Audacy: (1) Michael Del Nin, (2) Brian Lakamp, (3) Laura Molen, (4) Christy Tanner, (5) Kelli Turner and (6) James Wilson.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Roger Meltzer resigned as Director at AUDACY, INC..
  - Action: resigned
  - Role: Director
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Sean R. Creamer resigned as Director at AUDACY, INC..
  - Action: resigned
  - Role: Director
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Kelli Turner was appointed as director at AUDACY, INC..
  - Action: appointed
  source text: the following individuals were appointed directors of Audacy: (1) Michael Del Nin, (2) Brian Lakamp, (3) Laura Molen, (4) Christy Tanner, (5) Kelli Turner and (6) James Wilson.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  James Wilson was appointed as director at AUDACY, INC..
  - Action: appointed
  source text: the following individuals were appointed directors of Audacy: (1) Michael Del Nin, (2) Brian Lakamp, (3) Laura Molen, (4) Christy Tanner, (5) Kelli Turner and (6) James Wilson.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Susan K. Neely resigned as Director at AUDACY, INC..
  - Action: resigned
  - Role: Director
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Brian Lakamp was appointed as director at AUDACY, INC..
  - Action: appointed
  source text: the following individuals were appointed directors of Audacy: (1) Michael Del Nin, (2) Brian Lakamp, (3) Laura Molen, (4) Christy Tanner, (5) Kelli Turner and (6) James Wilson.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Joel Hollander resigned as Director at AUDACY, INC..
  - Action: resigned
  - Role: Director
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  David J. Berkman resigned as Director at AUDACY, INC..
  - Action: resigned
  - Role: Director
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Louise Kramer resigned as Director at AUDACY, INC..
  - Action: resigned
  - Role: Director
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Michael Del Nin was appointed as director at AUDACY, INC..
  - Action: appointed
  source text: the following individuals were appointed directors of Audacy: (1) Michael Del Nin, (2) Brian Lakamp, (3) Laura Molen, (4) Christy Tanner, (5) Kelli Turner and (6) James Wilson.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Joseph M. Field resigned as Chairman Emeritus at AUDACY, INC..
  - Action: resigned
  - Role: Chairman Emeritus
  source text: the following directors of the board of directors of Audacy (the “ Board ”), in their capacities as such, were deemed to have resigned or otherwise ceased to be directors of Audacy on the Effective Date (and any committees of the Board thereof) (collectively, the “ Director Resignations ”): (1) David J. Berkman, (2) Sean R. Creamer, (3) Joel Hollander, (4) Louise Kramer, (5) Mark R. LaNeve, (6) Roger Meltzer, (7) Susan K. Neely and (8) Joseph M. Field (Chairman Emeritus).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm
- Executive change
  Laura Molen was appointed as director at AUDACY, INC..
  - Action: appointed
  source text: the following individuals were appointed directors of Audacy: (1) Michael Del Nin, (2) Brian Lakamp, (3) Laura Molen, (4) Christy Tanner, (5) Kelli Turner and (6) James Wilson.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067837/000119312524229306/0001193125-24-229306-index.htm

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