New Media Investment Group (NEWM) Prices 7.5M Share Stock Offering for Proceeds of ~$120M

November 18, 2016 6:46 AM EST

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New Media Investment Group Inc. (NYSE: NEWM) announced that it priced its public offering of 7,500,000 shares of its common stock for gross proceeds of approximately $120 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. The underwriter may offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. In connection with the offering, the Company has granted the underwriter an option for 30 days to purchase up to an additional 1,125,000 shares of common stock. The offering is expected to close on November 23, 2016, subject to customary closing conditions.

New Media intends to use the net proceeds from this offering for general corporate purposes, which may include potential investments in, and acquisitions of, local media businesses and assets.

Morgan Stanley is the sole underwriter for the offering. The offering is being made pursuant to New Media’s effective shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission. The offering is being made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus supplement and the prospectus in the registration statement on Form S-3 and other documents the Company has filed or will file with the Securities and Exchange Commission for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department.



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