Emmis Communications launches tender offer to repurchase up to 1M Class A shares

• Emmis Communications (OTCPK:EMMS) has launched a tender offer to repurchase up to 1M shares of its Class A common stock at prices of not greater than $3.75 nor less than $2.75 per share.
• The tender offer is scheduled to expire on Aug. 05, 2022 and is contingent upon at least 250K shares being tendered.
• The purchase will be funded primarily from cash on hand and borrowings under an existing $1.6M line of credit.
• Assuming 1M Class A common shares are tendered, Emmis (OTCPK:EMMS) would repurchase ~11% of the Class A shares issued and outstanding as of July 1, 2022, and ~9.3% of its total common stock, which includes Class B common stock not subject to the tender offer.

Comments

[TGAgrippa]

Last year's tender offer was for $2.60, so things are looking up. Who knows what the 2023 offer will look like. Which do you prefer, a quick nickel or a slow dime?

[muero]

@TGAgrippa ... quick nickel ...