Townsquare Media, Inc. (NYSE:TSQ) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Company) successfully amended its senior secured credit agreement
to reduce the applicable interest rate on its term loan
facilities due April 2022. Under the amended term loan, the
applicable interest rate has been reduced by 25 basis points to
LIBOR 3.00% from LIBOR 3.25%. The LIBOR floor of 1.00% remains
unchanged, and a 1.00% prepayment premium will apply in the event
any term loans are repriced, repaid or refinanced within six
months. All other terms of the senior secured credit agreement
remain substantially unchanged.
announcing the foregoing repricing, a copy of which is attached
as Exhibit 99.1 to this Current Report on Form 8-K.
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Number
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Exhibit
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99.1
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Press release, dated February 8, 2017
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contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking
statements, written, oral or otherwise made, represent the
Companys expectation or belief concerning future events. Without
limiting the foregoing, the words believes, expects, may, will,
should, seeks, intends, plans, strives, goal, estimates,
forecasts, projects or anticipates and similar expressions are
intended to identify forward-looking statements. By nature,
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
projected or implied by the forward-looking statement.
Forward-looking statements are based on current expectations and
assumptions and currently available data and are neither
predictions nor guarantees of future events or performance. You
should not place undue reliance on forward-looking statements,
which speak only as of the date hereof. See Risk Factors and
Forward-Looking Statements included in our Annual Report on Form
10-K for the year ended December 31, 2015, filed with the
Securities and Exchange Commission on February 26, 2016, for a
discussion of factors that could cause our actual results to
differ from those expressed or implied by forward-looking
statements. Townsquare Media, Inc. assumes no responsibility to
update any forward-looking statement as a result of new
information, future events or otherwise.
About Townsquare Media, Inc. (NYSE:TSQ)
Townsquare Media, Inc. is a media, entertainment and digital marketing solutions company principally focused on small and mid-sized markets across the United States. The Company operates through two segments: Local Advertising and Live Events. The Company’s Local Advertising segment offers broadcast, digital and mobile advertising within its local markets. The Company’s Live Events segment consists of a range of live events, which the Company creates, promotes and produces, including music concerts, multi-day music festivals, fairs, consumer expositions and trade shows, athletic events, lifestyle events and other forms of entertainment. The Company reports the remainder of its business in its Other Media and Entertainment category, which principally provides digital marketing solutions, e-commerce solutions and digital advertising services nationally. The Company’s assets include radio stations, live events, and digital, mobile, video and social media properties. Townsquare Media, Inc. (NYSE:TSQ) Recent Trading Information
Townsquare Media, Inc. (NYSE:TSQ) closed its last trading session down -0.09 at 11.09 with 27,118 shares trading hands.
