Beasley raises $4.3M net at $14/share; $15 warrants; redeems $11.4M of 11.000% 2028 notes

BEASLEY BROADCAST GROUP INC

Registered Direct Offering: 200,000 Class A shares at $14.00 each, plus pre-funded warrants for 157,000 shares at $13.9999 (exercise price $0.0001).
Concurrent private placement: 357,000 Common Warrants at $15.00/share, exercisable six months after issuance with a 5.5-year term.
Net proceeds ~$4.3M; A.G.P./Alliance Global Partners receives a 6.0% cash fee plus reimbursement of up to $50,000 in expenses.
Proceeds, plus asset-sale proceeds from towers, real estate and two radio stations, cut the Siena Lending ABL revolver by ~$2.2M and redeem ~$11.4M of 11.000% first-lien notes due 2028.
Directors and officers signed 60-day lock-up agreements; company agreed to a 60-day share-issuance standstill and a 180-day ban on Variable Rate Transactions.

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