SEC Filing Summary for Beasley Broadcast Group, Inc.

Beasley Broadcast Group, Inc. (the "Company") announced on May 1, 2026, the issuance of $98,475,254 in aggregate principal amount of 10.000% Senior Secured Second Lien PIK Notes due 2027 (the "2027 PIK Notes"). These notes were issued in connection with an exchange offer for the Company's existing 9.200% Senior Secured Second Lien Notes due 2028. Approximately $184,056,000 of existing notes were exchanged for the new notes. The 2027 PIK Notes mature on December 31, 2027, with provisions for a "Springing Maturity Date" under certain conditions related to asset sales, debt or equity financings, or events of default. Holders have the option to convert the notes into the Company's Class A and Class B common stock under specific circumstances, subject to FCC approval. The notes are secured on a second-lien priority basis by the Company's collateral. The indenture includes covenants that restrict the Issuer's ability to incur additional debt, pay dividends, make investments, and dispose of assets, among other limitations. Additionally, the Company entered into a new $35.0 million secured asset-based revolving credit facility (the "ABL Credit Facility") with Siena Lender Group LLC, which matures on May 1, 2029, or the Springing Maturity Date, whichever comes first. The ABL Credit Facility is intended for working capital and other permitted purposes.