The Bordes Family Moves To Divest All Their Beasley Broadcasting Stock

Bordes Family Moves To Divest All Their Beasley Broadcasting Stock

The BORDES family -- previous owners of GREATER MEDIA -- are selling off the BEASLEY stock they received in the transaction.

LEE BORDES, the widow of GREATER MEDIA founder PETER BORDES, SR., and other family members have filed notice with the SEC that they plan to sell up to 5,422,993 shares of the Class A BEASLEY stock they now own. 

The filing notes, "This prospectus relates to the resale of up to 5,422,993 shares of Class A common stock of BEASLEY BROADCAST GROUP, INC., by the selling stockholders identified in this prospectus. We will not receive any proceeds from the sale of the shares. We have agreed to bear all of the expenses incurred in connection with the registration of these shares. The selling stockholders identified in this prospectus will pay underwriting discounts and commissions and any transfer taxes incurred for the sale of shares of our Class A common stock. Our Class A common stock is listed on The NASDAQ Global Market under the symbol 'BBGI.' On DECEMBER 29, 2016, the closing sale price of our Class A common stock on The NASDAQ Global Market was $5.85 per share. You are urged to obtain current market quotations for our Class A common stock."

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