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Audacy Announces Termination of Preemptive Rights Offering

Audacy has announced the termination of its previously announced preemptive rights offering, which would have allowed qualifying stockholders to purchase up to 5,000,000 additional shares of Class A and Class B Common Stock at $20.00 per share.

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PHILADELPHIA--(BUSINESS WIRE)-- Audacy, Inc. (the “Company” or “Audacy”) today announced that it is terminating the Company’s previously announced offer to certain of its qualifying stockholders to purchase up to 5,000,000 additional shares, in the aggregate, of the Company’s Class A Common Stock and Class B Common Stock at a purchase price of $20.00 per share (the “Issuance”). Following further engagement with the Company’s stockholders, the Company has determined that it would not receive the approvals necessary to increase its share capital, which is necessary to effect the Issuance. The Company is, therefore, terminating the Issuance effective immediately and in accordance with the terms and conditions set forth in the notice of Issuance previously delivered to the Company’s qualifying stockholders. Stockholders may contact Latham & Watkins LLP at audacypreemptiverights.lwteam@lw.com with any additional questions.

About Audacy

Audacy, Inc. is a leading scaled, multi-platform audio content and entertainment company that connects with 200 million consumers. Powered by its exclusive, premium audio content that includes unrivaled leadership positions in news and sports radio, Audacy operates one of the country’s two scaled radio broadcasting groups, a rapidly growing direct-to-consumer digital audio platform, multiple audio networks, a major event business and a leading, award-winning podcast studio and network. Learn more at www.audacyinc.com, Facebook, X, LinkedIn and Instagram.

For information about this preemptive rights offering:
Latham & Watkins LLP
audacypreemptiverights.lwteam@lw.com

For Information About Audacy:
David Heim
Audacy
David.Heim@Audacy.com
(908) 472-3927

Source: Audacy, Inc.

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