New Media Investment Group (NEWM) to Offer 7.5M Shares

November 17, 2016 4:05 PM EST

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New Media Investment Group Inc. (NYSE: NEWM) announced today that it launched a public offering of 7,500,000 shares of its common stock. 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, New Media has granted the underwriter an option for 30 days to purchase up to an additional 1,125,000 shares of New Media’s common stock.

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.



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