Beasley Regains Nasdaq Compliance.

Beasley Media Group has regained compliance with Nasdaq’s minimum stockholders’ equity requirement, ending a listing issue that had been hanging over the broadcaster since April.

In an Aug. 19 written notice, the Nasdaq Listing Qualifications Department confirmed that Beasley had regained compliance with Listing Rule 5550(b)(1), which requires companies listed on the Nasdaq Capital Market to maintain at least $2.5 million in stockholders’ equity. Nasdaq has closed the matter.

Beasley disclosed in April that it had fallen out of compliance after reporting a stockholders’ deficit of $49.3 million, well below Nasdaq’s $2.5 million equity threshold. The company had been given until Oct. 10 to demonstrate compliance under an extended review period.

Beasley resolved the issue nearly seven weeks ahead of that deadline following a May debt restructuring. The transaction involved the exchange of approximately $184 million of second-lien notes for new secured notes and the repurchase of $15.9 million of first-lien debt.

The restructuring generated a $91.8 million non-cash gain that helped move Beasley to positive stockholders’ equity by the end of the second quarter. The company also established a new asset-based revolving credit facility intended to provide additional liquidity.

The latest SEC filing does not detail the specific steps that restored Beasley’s equity position to the required level. Beasley’s Class A common stock remains listed and traded on the Nasdaq Capital Market under the ticker “BBGI.”

The broadcaster has faced Nasdaq listing issues before. In October 2023, Beasley received a delisting warning related to its stock price and subsequently completed a 1-for-20 reverse stock split in September 2024 to address the deficiency.