Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 109

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 109
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 the capital stock of each guarantor (collectively, the “Notes Priority Collateral”) and (ii) on a second priority basis by the ABL Priority Collateral. The Company conducts a portion of its business through its subsidiaries. Certain of the Company’s subsidiaries have fully and unconditionally guaranteed the Company’s 2028 Notes.

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The deferred financing costs included in interest expense for all instruments, for each of the three and six months ended June 30, 2025 and 2024, was approximately $0.4 million and $0.9 million, respectively. The Company’s effective interest rate for the three and six months ended June 30, 2025 and 2024 was 7.72% and 7.80%, respectively.From time to time, the Company may repurchase its debt securities in open market purchases. Under open authorizations by the Company's Board of Directors, repurchases of the outstanding debt may be made from time to time on the open market or in privately negotiated transactions in accordance with applicable laws and regulations. Repurchased debt is retired when repurchased. The timing and extent of any repurchases will depend upon prevailing market conditions, the trading price of the Company’s outstanding debt and other factors, and subject to restrictions under applicable law.The following table details the repurchase activity of our 2028 Notes:Three Months Ended June 30, 2025Three Months Ended March 31, 2025Three Months Ended June 30, 2024Three Months Ended March 31, 2024(in thousands)Repurchased amount at par value$64,012$28,227$35,525$75,000Weighted-average percentage of par51.8%58.0%78.0%88.3%Net gain on retirement of debt30,29711,5877,4257,874 After giving effect to all the repurchases of the outstanding debt, the Company has approximately $48.2 million remaining under the current authorization by the Board of Directors on a cash basis. The 2028 Notes had a fair value of approximately $276.9 million as of June 30, 2025. The fair value of the 2028 Notes, classified as a Level 2 instrument, was determined based on the trading values of this instrument in an inactive market as of the reporting date.Asset-Backed Credit FacilitiesOn February 19, 2021, the Company closed on its current asset backed credit facility (