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OFFON

MEDIACO HOLDING INC.

(MDIA)
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MEDIACO HOLDING INC. : Other Events (form 8-K)

08/20/2021 | 04:53pm EDT

Item 8.01 Other Events.

On August 20, 2021, MediaCo Holding Inc. (the "Company") (the "Company") entered into an At Market Issuance Sales Agreement (the "Sales Agreement") with B. Riley Securities, Inc. ("B. Riley"), pursuant to which the Company may offer and sell, from time to time through or to B. Riley, as agent or principal, shares of the Company's Class A Common Stock, $0.01 par value per share (the "Common Stock"), having an aggregate offering price of up to $12,475,000 (the "Shares").

Under the Sales Agreement, B. Riley may sell the Shares by any method permitted by law and deemed to be an "at the market offering" as defined in Rule 415 promulgated under the Securities Act of 1933, as amended. The Company may instruct B. Riley not to sell Shares if the sales cannot be effected at or above the price designated by the Company from time to time.

The Company is not obligated to make any sales of the Shares under the Sales Agreement. This offering of Shares pursuant to the Sales Agreement will terminate upon the earlier of (a) the sale of all of the Shares subject to the Sales Agreement or (b) the termination of the Sales Agreement by B. Riley or the Company, as permitted therein.

The Company will pay B. Riley a commission rate equal to 3.0% of the aggregate gross proceeds from each sale of Shares and have agreed to provide B. Riley with customary indemnification and contribution rights. The Company will also reimburse B. Riley for certain specified expenses in connection with entering into the Sales Agreement.

The foregoing description of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The opinion of the Company's Indiana counsel regarding the validity of the Shares that will be issued pursuant to the Sales Agreement is also filed herewith as Exhibit 5.1.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the Common Stock discussed herein, nor shall there be any offer, solicitation, or sale of Common Stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 39,3 M - -
Net income 2020 -26,8 M - -
Net Debt 2020 115 M - -
P/E ratio 2020 -0,64x
Yield 2020 -
Capitalization 75,2 M 75,2 M -
EV / Sales 2019 -
EV / Sales 2020 3,42x
Nbr of Employees 147
Free-Float 27,2%
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Managers and Directors
Rahsan-Rahsan Lindsay Chief Executive Officer & Director
Bradford A. Tobin President & Chief Operating Officer
Ryan A. Hornaday Chief Financial Officer, Treasurer & Executive VP
Andrew Paul Glaze Independent Director
Laura Anne Lee Independent Director
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