Lead Manager
Beasley Broadcast Group, Inc.
Equity Capital Markets
Secondary Offering
Transaction Details
- On July 24, 2018, Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or “the Company”) announced the pricing of an underwritten secondary offering of 3,126,147 shares of its Class A common stock at a price to the public of $7.50 per share
- The offering consisted entirely of secondary shares sold by selling stockholders
- The selling stockholders are members of the Bordes family, who received BBGI shares when the Company acquired Greater Media in November 2016
- The selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 468,922 shares of BBGI Class A common stock
- Beasley will not receive any proceeds from the sale of shares by the selling stockholders
- Stephens Inc. served as Lead Manager on the Beasley Broadcast Group offering
About the company
Celebrating its 57th anniversary this year, Beasley Broadcast Group, Inc. was founded in 1961 by George G. Beasley who remains the Company’s Chairman of the Board. Beasley Broadcast Group owns and operates 63 stations (45 FM and 18 AM) in 15 large- and mid-size markets in the United States. Beasley radio stations reach approximately 19.0 million unique consumers weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company’s brands and personalities through digital platforms such as Facebook, Twitter, text, apps and email.
Sources: Company press release and SEC filings.
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This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.
The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at www.sec.gov at the following link:https://www.sec.gov/Archives/edgar/data/1099160/000119312518223119/d546417d424b5.htm as supplemented by https://www.sec.gov/Archives/edgar/data/1099160/000119312518224269/d546417dfwp.htm. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration