At The Market Sales Agreement: MediaCo Holding Inc. Enters Agreement with BTIG, LLC and Moelis & Company LLC

MediaCo Holding Inc. (NASDAQ:MDIA) announced on December 12, 2024, that it has entered into an At-The-Market Sales Agreement with BTIG, LLC and Moelis & Company LLC. Under this agreement, the company may offer and sell, from time to time through or to the Agents, as agents, shares of the Company’s Class A Common Stock, with an aggregate offering price of up to $2,031,019.

The Agents are permitted to sell the shares through any method deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended. Upon receipt of a Placement Notice, the Agents will use commercially reasonable efforts to sell the shares up to the specified amount. The company retains the right to instruct the Agents not to sell shares if the sales cannot be executed at or above the designated price.

It is important to note that the company is not obligated to make any sales of the shares under this agreement. The offering will cease either upon the sale of all the shares or upon termination by the Agents or the company, as permitted in the agreement terms.

As part of the agreement, the Agents will receive a commission rate of 4.00% of the aggregate gross proceeds from each share sale. Additionally, the company will provide the Agents with customary indemnification and contribution rights, along with reimbursement for specified expenses related to entering the agreement.

This announcement underlines MediaCo Holding Inc.’s strategic financial moves, offering an opportunity for potential investors to participate in the company’s Common Stock. For further details on the agreement, interested parties can refer to the full text of the agreement attached as an exhibit to the Company’s current report on Form 8-K.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Common Stock discussed herein. Any offer, solicitation, or sale of Common Stock will be subject to compliance with applicable securities laws.

The transaction and details thereof are filed in the Form 8-K with the Securities and Exchange Commission on December 12, 2024.

This piece of information is not a materially important data, but an update on the recent activities of MediaCo Holding Inc., adding to the transparency and investor awareness in the market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MediaCo’s 8K filing here.

About MediaCo

MediaCo Holding Inc owns and operates radio stations in the United States. The company engages in the operation of WQHT-FM and WBLS-FM radio stations in the New York City area. It also offers digital advertising, and events, which includes sponsorships, ticket sales, licensing, and syndication services.