Urban One receives additional Nasdaq delisting notice for late Q3 filing; hearing set Nov 30

URBAN ONE, INC.

Entered Fifth Waiver and Amendment to ABL Facility waiving defaults for late Q1/Q2 2023 10-Qs; deadlines Nov 30 and Dec 31, 2023.
Received Additional Staff Delisting Determination from Nasdaq for failure to file Q3 2023 Form 10-Q on time.
Nasdaq Hearings Panel hearing scheduled for Nov 30, 2023; trading stay extended pending outcome.
Company expects to file delinquent Q1/Q2 reports before hearing and Q3 10-Q by Dec 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

URBAN ONE, INC. amended Fifth Waiver and Amendment with Bank of America, N.A., as administrative agent (effective 2023-11-09).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent
Effective: 2023-11-09

Exact text from the filing

On November 9, 2023, Urban One, Inc. (the “Company”) entered into a fifth waiver and amendment (the “Fifth Waiver and Amendment”) to the Current ABL Facility, dated as of February 19, 2021 (as amended by the Waiver and Amendment, the “Amended Current ABL Facility”), with the Company, the Company’s subsidiaries guarantors, Bank of America, N.A., as administrative agent (the “Administrative Agent”) and the lenders party thereto.

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URBAN ONE, INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-019137

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