Radio One, Inc. Prices Equity Financing
Radio One has granted to the underwriters in the offering the right to purchase up to an additional 1,500,000 shares of Class D common stock to cover over-allotments, if any.
The aggregate net proceeds from the offering is expected to be approximately $170 million. Radio One intends to use these net proceeds to finance a pending acquisition, pay down indebtedness and for general corporate purposes. The offering is expected to close on April 10, 2002.
Radio One is the nation's seventh largest radio broadcasting company (based on 2001 pro forma revenue) and the largest primarily targeting African- American and urban listeners. Pro forma for the announced acquisition and operating agreements, the Company owns and/or operates 65 radio stations located in 22 of the largest markets in the United States and programs five channels on the XM Satellite Radio, Inc. system.
This release shall not constitute an offer to sell or the solicitation of an offer to buy, not shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
A prospectus relating to each offering described herein can be obtained from Credit Suisse First Boston prospectus department at 212-325-2580 and Banc of America Securities prospectus/information center at 415-627-2220.
MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X47145661SOURCE Radio One, Inc.
CONTACT: Scott R. Royster, Chief Financial Officer of Radio One, Inc., +1-301-429-2642 (ROIA ROIAK) http://www.prnewswire.com
Copyright (C) 2002 PR Newswire. All rights reserved.