Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (the “Company”) today announced the closing of the previously announced underwritten offering of 8.0 million shares of Class A common stock of the Company by the selling stockholders, funds affiliated with ABRY Partners, LLC. The Company did not sell any shares in the offering and did not receive any proceeds from the offering.
The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.2 million shares of Class A common stock on the same terms and conditions. Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC and UBS Securities LLC were the joint book-running managers of the offering. RBC Capital Markets, LLC and Evercore Group L.L.C. acted as co-managers of the offering.
A shelf registration statement (including prospectus) relating to the shares has been declared effective by the Securities and Exchange Commission ("SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor has there been any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The offering of these securities has been made only by means of the prospectus supplement and the accompanying prospectus.
About Nexstar Broadcasting Group, Inc.Nexstar Broadcasting Group is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, e-MEDIA, digital and mobile media platforms. Nexstar owns, operates, programs or provides sales and other services to 64 television stations and related digital multicast signals reaching 38 markets or approximately 11.1% of all U.S. television households. Assuming completion of all announced transactions, Nexstar will own, operate, program or provide sales and other services to 71 television stations and related digital multicast signals reaching 41 markets or approximately 12.1% of all U.S. television households.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts