Urban One Enters Material Definitive Agreement

TL;DR

Urban One signed a big deal on 5/30, filing includes financials.

AI Summary

Urban One, Inc. entered into a Material Definitive Agreement on May 30, 2024. The filing also includes financial statements and exhibits related to this agreement. The company, formerly known as Radio One, Inc., is incorporated in Delaware and operates in the radio broadcasting industry.

Why It Matters

This filing indicates a significant new agreement for Urban One, Inc., which could impact its financial performance and strategic direction.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent business risks.

Key Numbers

• 0-25969 — Commission File Number (SEC File Number for Urban One, Inc.)
• 52-1166660 — IRS Employer Identification No. (Tax Identification Number for Urban One, Inc.)

Key Players & Entities

• URBAN ONE, INC. (company) — Registrant
• RADIO ONE, INC. (company) — Former Company Name
• May 30, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 1010 Wayne Avenue (address) — Business Address

FAQ

Filing Documents

• uone-20240530x8k.htm (8-K) — 38KB
• uone-20240530xex4d1.htm (EX-4.1) — 77KB
• uone-20240530x8k001.jpg (GRAPHIC) — 3KB
• 0001558370-24-008928.txt ( ) — 287KB
• uone-20240530.xsd (EX-101.SCH) — 4KB
• uone-20240530_def.xml (EX-101.DEF) — 14KB
• uone-20240530_lab.xml (EX-101.LAB) — 19KB
• uone-20240530_pre.xml (EX-101.PRE) — 14KB
• uone-20240530x8k_htm.xml (XML) — 7KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On May 30, 2024, Urban One, Inc. (the "Company") entered into a seventh waiver and amendment (the "Seventh Waiver and Amendment") to the Credit Agreement dated as of February 19, 2021 (as amended, the "Amended Current ABL Facility"), with the Company, the Company's subsidiaries guarantors, Bank of America, N.A., as administrative agent (the "Administrative Agent") and the lenders party thereto. The Seventh Waiver and Amendment waived certain events of default under the Current ABL Facility related to the Company's failure to timely deliver both the Annual Financial Deliverables for the period ended December 31, 2023 (the "2023 Form 10-K") and Quarterly Financial Deliverables for the quarter ended March 31, 2024 as required under the Current ABL Facility (the "2024 Q1 Form 10-Q" and, together with the "2023 Form 10-K, the "Delayed Reports" ). The Seventh Waiver and Amendment sets a due date of June 17, 2024, for the Delayed Reports. The foregoing is a summary of the Seventh Waiver and Amendment, the full text of which is attached hereto as an exhibit.

01. Financial Statements and Exhibits

ITEM 9.01. Financial Statements and Exhibits. (c)Exhibits Exhibit Number Description 4.1 Seventh Amendment and Waiver, dated as of May 30, 2024, among Urban One, Inc., the other borrowers party thereto, the lenders party thereto from time to time and Bank of America, N.A., as administrative agent 104 Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101).

Forward Looking Statements

Forward Looking Statements The Company cautions you certain of the statements in this Form 8-K or in its press release may represent "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are based on assumptions believed by the Company to be reasonable and speak only as of the date on which such statements are made. Without limiting the generality of the foregoing, words such as "expect," "believe," "anticipate," "intend," "plan," "project," "will" or "estimate," or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date and cautions investors not to place undue reliance on any such forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements based on a number of factors, including but not limited to the following: any recurrence of the COVID-19 pandemic or and other health epidemics or pandemics on the global economy; the cost and availability of capital or credit facility borrowings; the ability to obtain equity financing; general market conditions; the adequacy of cash flows or available debt resources to fund operations; and other risk factors described from time to time in the Company's Forms 10-K, Forms 10-K/A, Forms 10-Q, Forms 10-Q/A and Form 8-K reports (including all amendments to those reports). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. URBAN ONE, INC. /s/ Peter D. Thompson June 05, 2024 Peter D. Thompson Chief Financ

View Full Filing

View this 8-K filing on SEC EDGAR