Townsquare Media Enters New Agreement, Terminates Old One

Ticker: TSQ · Form: 8-K · Filed: 2025-02-24T00:00:00.000Z

Sentiment: neutral

Topics: agreement, debt, filing

Related Tickers: TSQ

TL;DR

TSQ just signed a new deal and ditched an old one, creating new debt.

AI Summary

On February 19, 2025, Townsquare Media, Inc. entered into a material definitive agreement and simultaneously terminated a prior material definitive agreement. This action also created a direct financial obligation for the registrant. The filing includes financial statements and exhibits related to these events.

Why It Matters

This filing indicates a significant change in Townsquare Media's contractual obligations, potentially impacting its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new agreements and terminating old ones, especially those creating financial obligations, can introduce financial and operational risks.

Key Players & Entities

FAQ

What was the nature of the material definitive agreement entered into by Townsquare Media, Inc. on February 19, 2025?

The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the excerpt.

What was the reason for terminating the prior material definitive agreement?

The filing states that a prior material definitive agreement was terminated, but the specific reasons for termination are not detailed in the provided text.

What type of direct financial obligation was created for Townsquare Media, Inc.?

The filing mentions the creation of a direct financial obligation, but the specific nature and amount of this obligation are not specified in the excerpt.

What are the key financial statements and exhibits included with this 8-K filing?

The filing states that financial statements and exhibits are included, but the specific content of these documents is not detailed in the provided text.

When was Townsquare Media, Inc. incorporated or organized?

Townsquare Media, Inc. was incorporated or organized in Delaware.

From the Filing

0001499832-25-000030.txt : 20250224 0001499832-25-000030.hdr.sgml : 20250224 20250224084729 ACCESSION NUMBER: 0001499832-25-000030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20250219 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250224 DATE AS OF CHANGE: 20250224 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Townsquare Media, Inc. CENTRAL INDEX KEY: 0001499832 STANDARD INDUSTRIAL CLASSIFICATION: RADIO BROADCASTING STATIONS [4832] ORGANIZATION NAME: 06 Technology IRS NUMBER: 271996555 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36558 FILM NUMBER: 25654367 BUSINESS ADDRESS: STREET 1: 1 MANHATTANVILLE ROAD, SUITE 202 CITY: PURCHASE STATE: NY ZIP: 10577 BUSINESS PHONE: 203-861-0900 MAIL ADDRESS: STREET 1: 1 MANHATTANVILLE ROAD, SUITE 202 CITY: PURCHASE STATE: NY ZIP: 10577 FORMER COMPANY: FORMER CONFORMED NAME: Townsquare Media, LLC DATE OF NAME CHANGE: 20100824 8-K 1 tsq-20250219.htm 8-K tsq-20250219 0001499832 false 0001499832 2025-02-19 2025-02-19 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): February 19, 2025 Townsquare Media, Inc. (Exact name of Registrant as specified in its charter) Delaware 001-36558 27-1996555 (State or other jurisdiction of incorporation or organization) (Commission file number) (I.R.S. Employer Identification No.) One Manhattanville Road, Suite 202 Purchase, New York 10577  (Address of Principal Executive Offices, including Zip Code) ( 203 ) 861-0900 (Registrant's telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:      ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)      ☐ Soliciting material pursuant to Rule 14a - 12 under the Exchange Act (17 CFR 240.14a-12)      ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))      ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.01 par value per share TSQ The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐   If an emerging growth company indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   1 Item 1.01. Entry into a Material Definitive Agreement On February 19, 2025, Townsquare Media, Inc. (the “Company”) entered into a $490 million credit agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent and collateral agent and the lenders and financial institutions party thereto. The Credit Agreement, subject to the terms and conditions set forth therein, provides for a five-year,

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