Beasley Broadcast Group Inc. (NASDAQ: BBGI) announced the completion of its debt restructuring offers involving its senior secured notes, according to a company statement.

Holders of approximately $184.1 million in aggregate principal amount of existing 9.200% Senior Secured Second Lien Notes due 2028 participated in the exchange offer, converting their notes into $98.5 million aggregate principal amount of 2027 PIK Notes.

The company completed the purchase of $15.9 million aggregate principal amount of existing 11.000% Senior Secured First Lien Notes due 2028 on March 30, 2026, at 100% of par value plus accrued interest. Following this transaction, $15.0 million aggregate principal amount of the First Lien Notes remain outstanding.

Supporting holders representing approximately 98.7% of the existing First Lien Notes and 76.5% of the existing Second Lien Notes had entered into an amended transaction support agreement. The agreement initially required 100% participation from Second Lien Notes holders, but this condition was waived on April 28, 2026.

Latham & Watkins LLP served as legal counsel to the company, while Guggenheim Securities LLC acted as financial advisor.

Beasley Broadcast Group operates radio stations across multiple U.S. markets including Augusta, Boston, Charlotte, Detroit, Fayetteville, Las Vegas, Philadelphia and Tampa-Saint Petersburg. The Naples, Florida-based company describes itself as a multi-platform media company offering integrated marketing solutions across audio, digital and event platforms.