Beasley Broadcast raises $5M via direct offering and private placement

Beasley Broadcast Group, Inc. (Nasdaq: BBGI) announced it has entered into a securities purchase agreement with a single institutional investor for a registered direct offering and concurrent private placement expected to raise approximately $5.0 million in gross proceeds, before placement agent commissions and other expenses.

Under the agreement, the company will sell 357,000 shares of Class A Common Stock at $14.00 per share. Simultaneously, the investor will receive warrants to purchase up to 357,000 additional shares of Class A Common Stock at an exercise price of $15.00 per share. The warrants become exercisable six months after issuance and expire five and a half years from the date of issuance.

The closing is expected to occur on or about September 30, 2026, subject to customary closing conditions. The company stated it intends to use net proceeds to reduce borrowings under its secured asset-based revolving credit facility and to redeem a portion of Beasley Mezzanine Holdings LLC's 11.000% Senior Secured First Lien Notes due 2028 at a redemption price of 100.000% plus accrued interest.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the transaction. The shares are being offered under a shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission on June 4, 2026. The warrants are being issued in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933.

Beasley Broadcast Group owns 49 AM and FM stations across nine U.S. markets and claims a weekly over-the-air audience of approximately 18 million unique consumers.

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