Beasley Broadcast amends charter to enable debt-to-equity conversion

Beasley Broadcast Group amended its certificate of incorporation on June 4, 2026, to implement governance provisions tied to an Amended and Restated Transaction Support Agreement with certain debtholders dated April 27, 2026. The amendments establish conditions for conversion of $98,475,254 in aggregate principal amount of 10.000% Senior Secured Second Lien PIK Notes due 2027 into Class A and Class B Common Stock, with conversion rights exercisable by majority holders on or after December 31, 2027, or upon an Event of Default, subject to FCC approval. The Equity Conversion would result in conversion shares representing 95% of fully diluted equity (or reduced percentages depending on cash repayment levels), triggering a potential change of control.