Nexstar Broadcasting Group Announces Closing of Secondary Offering of Common Stock by Selling Stockholders
Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (the “Company”) today
announced the closing of the previously announced underwritten offering
of 3.0 million shares of Class A common stock of the Company by the
selling stockholders, funds affiliated with ABRY Partners, LLC. The
Company did not sell any shares in the offering and did not receive any
proceeds from the offering.
The selling stockholders have granted the underwriter a 30-day option to
purchase up to an additional 450,000 shares of Class A common stock on
the same terms and conditions. BofA Merrill Lynch acted as sole
underwriter of the offering.
A shelf registration statement (including prospectus) relating to the
shares has been declared effective by the Securities and Exchange
Commission ("SEC"). This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities nor has there
been any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction. The offering of these securities has been
made only by means of the prospectus supplement and the accompanying
prospectus.
About Nexstar Broadcasting Group, Inc.
Nexstar Broadcasting Group is a leading diversified media company that
leverages localism to bring new services and value to consumers and
advertisers through its traditional media, e-MEDIA, digital and mobile
media platforms. Nexstar owns, operates, programs or provides sales and
other services to 67 television stations and 11 related digital
multicast signals reaching 39 markets or approximately 11.6% of all U.S.
television households.
Assuming completion of all announced transactions, Nexstar will own,
operate, program or provide sales and other services to 72 television
stations and related digital multicast signals reaching 41 markets or
approximately 12.1% of all U.S. television households
Forward-Looking Statements
Certain statements in this news release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Generally, forward-looking statements are not based on historical
facts but instead represent only our current beliefs regarding future
events. All forward-looking statements are, by their nature, subject to
risks, uncertainties and other factors that could cause actual results,
performance or achievements to differ materially from those expressed or
implied in such forward-looking statements. Investors are cautioned not
to place undue reliance on these forward-looking statements. Such
statements may be identified by words such as "expects," "anticipates,"
"intends," "projects," "estimates," "plans," "may increase," "may
fluctuate" and similar expressions or future or conditional verbs such
as "will," "should," "would," "may" and "could." Unless required by law,
we undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. For more details on factors that could affect these
expectations, please see our filings with the Securities and Exchange
Commission.
