Townsquare Media Repurchases Stock Options From Senior Manag…

Townsquare Media Repurchases Stock Options From Senior Management & & Directors
Exec Chairman Steven Price marketed 1,565,681 shares. This deal follows last week’s repurchase of 1.5 million shares from MSG at $9.76 per share, the June 2023 repurchase of 1.5 million shares from MSG at $9.70 per share, and the March 2021 repurchase of 12.6 million shares and warrants from Oaktree Capital Management, L.P. at $6.40 per share.” We are extremely delighted to share that we were able to purchase the IPO alternatives at a net acquisition rate of $3.62 per option, getting rid of the overhang and the investor dilution that would certainly have taken place had these in-the-money alternatives been worked out in the open market before they expired this July.

Exec Chairman Steven Price sold 1,565,681 shares. This purchase complies with last week’s repurchase of 1.5 million shares from MSG at $9.76 per share, the June 2023 repurchase of 1.5 million shares from MSG at $9.70 per share, and the March 2021 repurchase of 12.6 million shares and warrants from Oaktree Capital Management, L.P. at $6.40 per share.” We are very delighted to share that we were able to purchase the IPO choices at a web purchase rate of $3.62 per choice, getting rid of the overhang and the investor dilution that would certainly have happened had these in-the-money options been worked out in the open market prior to they ended this July.” Once once more, we were able to utilize money on hand to resolve the deal, due to the strong money generation attributes of our company model, which created $68 million of money circulation from operations in 2023 (+35% year-over-year), and which additionally funded our internal electronic growth engine, accretive share and debt repurchases, and our high-yielding dividend to date.