NEW YORK--(BUSINESS WIRE)--New Media Investment Group Inc. announced today that it priced its public offering of 6,000,000 shares of its common stock for gross proceeds of approximately $99 million, before deducting underwriting discounts and commissions and offering expenses payable by the Company. The underwriter may offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. In connection with the offering, New Media has granted the underwriter an option for 30 days to purchase up to an additional 900,000 shares of New Media’s common stock. The offering is expected to close on April 10, 2018, subject to customary closing conditions.
New Media intends to use the net proceeds from this offering for general corporate purposes, including to fund recently announced and future acquisitions.
Credit Suisse Securities (USA) LLC and Morgan Stanley are the joint book-running managers for the offering. The offering is being made pursuant to New Media’s effective shelf registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission. The offering is being made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus supplement and the prospectus in the registration statement on Form S-3 and other documents the Company has filed or will file with the Securities and Exchange Commission for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained from: Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, Telephone: (800) 221-1037, Email: newyork.prospectus@credit-suisse.com; or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department.
About New Media Investment Group Inc.
New Media supports small to mid-sized communities by providing locally-focused print and digital content to its consumers and premier marketing and technology solutions to its small and medium business partners. The Company is one of the largest publishers of locally based print and online media in the United States as measured by its 142 daily publications. As of December 31, 2017, New Media operates in over 565 markets across 38 states, reaching over 22 million people on a weekly basis and serving approximately 215,000 business customers.
