NAPLES, Fla., July 24, 2018 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq:BBGI), a large- and mid-size market radio broadcaster, today announced the pricing of the previously announced offering of 3,126,147 shares of its Class A common stock by certain stockholders of Beasley named in the preliminary prospectus supplement at a price to the public of $7.50 per share. The Company has elected not to sell any shares in the offering. The offering is expected to close on or about July 26, 2018, subject to customary closing conditions. In addition, the underwriters have a 30-day option to purchase up to an additional 468,922 shares of Class A common stock from the Bordes family selling stockholders.

Beasley will not receive any proceeds from shares of Class A common stock to be sold by the Bordes family selling stockholders.

Guggenheim Securities, LLC is acting as sole book-running manager for the offering, Stephens Inc. is acting as lead manager for the offering, and Noble Capital Markets is acting as co-manager for the offering.

About Beasley Broadcast Group

Celebrating its 57th anniversary this year, Beasley Broadcast Group, Inc. was founded in 1961 by George G. Beasley who remains the Company’s Chairman of the Board. Beasley Broadcast Group owns and operates 63 stations (45 FM and 18 AM) in 15 large- and mid-size markets in the United States. Beasley radio stations reach approximately 19.0 million unique consumers weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company’s brands and personalities through digital platforms such as Facebook, Twitter, text, apps and email.