In a major move that ignited its stock price immediately after Monday’s Opening Bell on the NYSE, Townsquare Media has announced that it is repurchasing at least 10 million of the 12.5 million shares of Class A and Class B common stock — and warrants — held by funds managed by Oaktree Capital Management L.P.
The strike price price reflects a 19% discount from Friday’s closing price. And, with Tuesday’s trading, that discount will be even greater.
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