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Beasley Broadcast Group, Inc. (NASDAQ:BBGI) reported Monday that its wholly owned subsidiary, Beasley Mezzanine Holdings, LLC, has entered into supplemental indentures related to its outstanding senior secured notes. The agreements were signed on October 30. This development comes as the company operates with a significant debt burden of $280.22 million, dwarfing its current market capitalization of just $8.77 million. The stock has fallen nearly 8% over the past week.
According to a statement based on a SEC filing, the supplemental indentures affect the company’s 9.200% Senior Secured Second Lien Notes due 2028 and 11.000% Senior Secured First Lien Notes due 2028. The maturity date, known as the “springing maturity date,” has been extended to November 14, 2025, for all principal and accrued interest on these notes, provided that any of the issuer’s existing 8.625% Senior Secured Notes due 2026 remain outstanding.
Full details of the supplemental indentures are included in the exhibits to the company’s 8-K filing. The filing was signed by Chris Ornelas, General Counsel and Secretary of Beasley Broadcast Group.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Beasley Broadcast Group reported a decrease in total net revenue by 11.1% on a same-station basis during the second quarter of 2025. Despite the decline in overall revenue, the company experienced an 8.1% increase in digital revenue, indicating growth in that segment. Additionally, Beasley Broadcast Group implemented significant cost-cutting measures in response to the revenue challenges. In leadership changes, Chief Financial Officer Lauren Burrows Coleman has resigned, effective October 17, with no disagreements cited regarding company operations. Following her departure, CEO Caroline Beasley will temporarily take on the role of principal financial officer. Shaun Greening, currently Vice President of Financial Reporting, will assume the position of principal accounting officer, both effective October 17. These developments highlight the company’s ongoing adjustments in both financial performance and executive management.
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