Item 1.01 Entry into a Material Definitive Agreement.
On
The Amendment, among other things, reduces the minimum liquidity the Company is
required to maintain to
The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete terms of the Amendment, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
As previously disclosed, on
The Company has considered available alternatives, including, but not limited
to, a reverse stock split, subject to shareholder approval no later than at the
Company's next annual meeting of shareholders, if necessary, to regain
compliance. Under the NYSE's rules, if the Company determines that it will
regain compliance by taking an action that will require shareholder approval at
its next annual meeting of shareholders, the minimum price condition will be
deemed cured if the price promptly exceeds
Subject to receipt of shareholder approval at the Company's annual meeting of
shareholders to be held on
Item 8.01 Other Events.
The Company has determined that the annual meeting of shareholders will be held
on
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 10.1 Amendment No. 2, datedJanuary 27, 2023 , to the Receivables Purchase Agreement, datedJuly 15, 2021 , amongAudacy Operations, Inc. ,Audacy Receivables, LLC , the investors party thereto, andDZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main . 104 Cover Page Interactive Data File (embedded within the XBRL file)
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