Lee Enterprises adopts limited-duration shareholder rights plan against Quint Digital's 12.4% stake

LEE ENTERPRISES, Inc

Board adopted rights plan effective March 28, 2024, expiring March 27, 2025.
Plan triggered if any person acquires 15% or more of Lee's outstanding common stock.
Quint Digital rapidly built over 12.4% stake and indicated intent to continue acquiring shares.
Quint controls a digital publishing business that competes with Lee's subsidiary BLOX Digital.
Rights plan includes flip-in provision allowing 50% discount purchase of shares and exchange feature.

item 1.01 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

LEE ENTERPRISES, Inc: Filed a Certificate of Designations for Series C Participating Convertible Preferred Stock (effective 2024-03-28).

Change: charter amendment
Effective: 2024-03-28

Exact text from the filing

on March 28, 2024, the Company filed a Certificate of Designations of Series C Participating Convertible Preferred Stock with the Secretary of State of the State of Delaware.

View on SEC.gov

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

LEE ENTERPRISES, Inc entered into Rights Agreement with Equiniti Trust Company, LLC (effective 2024-03-28).

Action: entry
Counterparty: Equiniti Trust Company, LLC
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, the Board of Directors of Lee Enterprises, Incorporated (the “Company”) declared a dividend of one preferred share purchase right (a “Right”), payable on April 8, 2024, for each share of common stock, par value $0.01 per share, of the Company (the “Common Shares”) outstanding on April 8, 2024 (the “Record Date”) to the stockholders of record on that date. In connection with the distribution of the Rights, the Company entered into a Rights Agreement (the “Rights Agreement”), dated as of March 28, 2024, between the Company and Equiniti Trust Company, LLC, as rights agent.

View on SEC.gov

235 governance changes filed in the last 30 days. Browse all governance changes →

LEE ENTERPRISES, Inc filing history →

Source: SEC EDGAR

accession 0001628280-24-013717

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.