---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-037759"
form_type: "8-K"
ticker: "GTN"
cik: "0000043196"
company_name: "GRAY MEDIA, INC"
filed_at: "2025-12-12T23:59:59+00:00"
generated_at: "2026-05-16T13:25:24.302055+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Gray Media closes $250M add-on of 9.625% senior secured notes due 2032

## Summary
- Issued $250M additional 9.625% senior secured second-lien notes at 102% of par plus accrued interest.
- Notes form single series with existing $900M 9.625% notes due 2032; total now $1.15B.
- Net proceeds used to redeem a portion of 10.500% first-lien notes due 2029, pay fees, and for general corporate purposes.
- Interest payable semiannually starting Jan 15, 2026; maturity July 15, 2032.
- Issued in private placement under Section 4(a)(2) and Regulation D.

## SEC filing metadata
- accession: 0001437749-25-037759
- form_type: 8-K
- ticker: GTN
- cik: 0000043196
- company_name: GRAY MEDIA, INC
- filed_at: 2025-12-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/43196/000143774925037759/0001437749-25-037759-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/43196/000143774925037759/gtn20251211_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-037759
- JSON: https://secwatch.observer/filing/0001437749-25-037759.json
- Plain text: https://secwatch.observer/filing/0001437749-25-037759.txt

## Key facts
- Debt Financings
  GRAY MEDIA, INC incurred senior notes of $250,000,000 with certain accredited investors at 9.625% maturing July 15, 2032.
  - Instrument: senior notes
  - Principal: $250,000,000
  - Counterparty: certain accredited investors
  - Rate: 9.625%
  - Maturity: July 15, 2032
  - Event: incurrence
  source text: On December 12, 2025, Gray Media, Inc. (“ Gray ”, “ we ” or the “ Company ”) issued $250,000,000 in aggregate principal amount of its 9.625% Senior Secured Second Lien Notes due 2032 (the “ Additional Notes ”) to certain accredited investors (the “ Purchasers ”) pursuant to certain purchase agreements, dated December 5, 2025, by and among the Company, the guarantors party thereto and the Purchasers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/43196/000143774925037759/0001437749-25-037759-index.htm

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