Business
Urban One, Inc. Announces $25 Million At-The-Market Equity Offering Program
WASHINGTON, Aug. 18, 2020 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONE and UONEK) announced today that it has filed a prospectus supplement with the
About this update from Urban One, Inc.
[{"type":"text","content":"WASHINGTON, Aug. 18, 2020 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONE and UONEK) announced today that it has filed a prospectus supplement with the Securities and Exchange Commission (\"SEC\"), pursuant to which it may offer and sell shares of its Class A common stock (the \"Class A Shares\") having an aggregate offering price of up to $25,000,000 from time to time through an \"at-the-market\" equity offering program (the \"ATM Program\"). The Company currently intends to use the net proceeds from sales of the Class A Shares under the ATM Program for general corporate purposes, including repayment of indebtedness. The timing of any sales will depend on a variety of factors.\n\n \n \n \n \n \n \n\n \nThe Class A Shares will be offered through Jefferies LLC (\"Jefferies\"), as sales agent. Jefferies may sell Class A Shares by any method permitted by law deemed to be an \"at-the-market offering\" as defined in Rule 415 of the Securities Act of 1933, as amended, by means of ordinary brokers' transactions on the Nasdaq Stock Market or into any other existing trading market for the Class A Shares and such other sales as agreed upon by the Company and Jefferies. Sales may be made at market prices prevailing at the time of the sale, at prices related to prevailing market prices or at negotiated prices and, as a result, sales prices may vary.\nThe Company's prospectus supplement filed today with the SEC adds to, updates or otherwise changes information contained in the accompanying prospectus contained in a shelf registration statement on Form S-3 (File No. 333-241635) for the offering of Class A Shares. Prospective investors should read the prospectus, the prospectus supplement and other documents the Company has filed with the SEC (some of which are incorporated by reference into the prospectus and prospectus supplement) for more complete information about the Company, the ATM Program and the risks the Company currently is facing due to the spread of COVID-19. Before making an investment decision regarding the Class A Shares, please read the prospectus, including the related prospectus supplement, and other documents the company has filed, or will be filed, with the SEC for more complete information about the company, the Class A Shares and the ATM Program. Copies of the prospectus, the prospectus supplement and the registration stat...