TOWNSQUARE ANNOUNCES SIGNIFICANT SHARE REPURCHASE – PR Newswire
PURCHASE, N.Y., June 16, 2023 /PRNewswire/ — Townsquare Media, Inc. (NYSE: TSQ) (the “Company” or “Townsquare”) announced that it has repurchased, and subsequently retired, 1.5 million shares of Class C common stock held by MSG National Properties, LLC (“MSG”), for $9.70 per share. The purchase price reflects a 8.5% discount from the closing price of the Class A common stock on June 15, 2023. Following this transaction, MSG will own 1,708,139 shares of Common Stock in the Company (comprising 583,139 shares of Class A Common Stock and 1,125,000 shares of Class C Common Stock). The purchase price of $14.6 million was funded with cash on hand.
“We could not be more pleased to share that given our strong cash position, we were able to repurchase approximately 8.5% of our total shares outstanding (and nearly half of MSG’s ownership in Townsquare), capturing a positive return for our shareholders. Due to our strong cash flow generation, we have demonstrated Townsquare’s ability to…
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source: https://news.oneseocompany.com/2023/06/16/townsquare-announces-significant-share-repurchase-pr-newswire_2023061646189.html
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