05:56 PM EDT, 10/08/2024 (MT Newswires) -- Beasley Broadcast Group ( BBGI ) said Tuesday it has settled its exchange and cash tender offers for holders of its 8.625% senior secured notes maturing in 2026.

Beasley said holders of about $194.7 million of the notes exchanged their holdings into 9.2% senior secured notes due 2028 at an exchange ratio of 95%; a pro-rate share of 179,384 common shares; and a consent fee of $5 per $1,000 principal amount of the notes.

The company said it purchased $68 million of notes at a purchase price of 62.5% plus accrued and unpaid interest as part of the tender offer.

The company also settled its offering of $30.9 million of 11% superpriority senior secured notes due 2028.