secwatch.observer — SEC 8-K summary
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Issuer:     BEASLEY BROADCAST GROUP INC (BBGI)
CIK:        0001099160
Form:       8-K
Filed at:   2026-05-01T23:59:59+00:00
Accession:  0001193125-26-201510
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beasley completes exchange of $184M second-lien notes for $98.5M PIK notes, new $35M ABL facility
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- Exchanged $184.1M of 9.200% Second Lien Notes for $98.5M of new 10% PIK Notes due 2027 at $500 per $1,000 principal plus 50% accrued interest.
- New PIK Notes mature Dec 31, 2027, with springing maturity in Sept 2027 if refinancing not secured; interest payable in kind.
- Holders of majority of PIK Notes may convert all outstanding notes into 95% of BBGI common equity after Dec 31, 2027, subject to FCC approval.
- Entered $35M ABL credit facility with Siena Lending Group LLC, maturing 2029, borrowing based on receivables, floating rate + 4.25% margin.
- Completed tender offer for $15.9M of existing First Lien Notes at par; $15M remain outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1099160/000119312526201510/0001193125-26-201510-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1099160/000119312526201510/d64747d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-201510

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