secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2026-07-01T13:25:15+00:00
Accession:  0001437749-26-022218
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 8.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gray Media issues $70M notes, buys American Spirit stations for $50M, repurchases $50M preferred at $30M
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- Issued $70M of 7.250% Senior Secured First Lien Notes due 2033 at par plus accrued interest from Feb 15, 2026.
- Used $40M of proceeds for first closing of acquisition of six TV stations from American Spirit Media for total $50M.
- Used $30M to repurchase 50,000 shares Series A Preferred Stock ($50M liquidation preference), a discount to par.
- Acquired stations: WUPW (Toledo), WDBD (Jackson), WSFX-TV (Wilmington), WXTX (Columbus), KAUZ-TV (Wichita Falls), KVHP (Lake Charles).
- Second closing expected Q4 2026 pending regulatory approvals; Gray expects transaction to be cash flow accretive with no increase in leverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774926022218/0001437749-26-022218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774926022218/gtn20260629_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-022218

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