Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 153

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 153
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 2028 Notes and the guarantees are secured, subject to permitted liens and except for certain excluded assets: (i) on a first priority basis by substantially all of the Company’s and the guarantors’ current and future property and assets (other than accounts receivable, cash, deposit accounts, other bank accounts, securities accounts, inventory and related assets that secure the Company’s asset-backed revolving credit facility on a first priority basis (the “ABL Priority Collateral”), including 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 the three and nine months ended September 30, 2025, were approximately $0.4 million and $1.3 million, respectively. The deferred financing costs included in interest expense for all instruments, for the three and nine months ended September 30, 2024 were approximately $0.4 million and $1.4 million, respectively. The Company’s effective interest rate for the three and nine months ended September 30, 2025 and 2024 were approximately 7.72% and 7.83%, 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 September 30, 2025Three Months Ended June 30, 2025Three Months Ended March 31, 2025(in thousands)Repurchased amount at par value$4,500$64,012$28,227Weighted-average percentage of par52.0%51.8%58.0%Net gain on retirement of debt2,12530,29711,587Three Months Ended September 30, 2024Three Months Ended June 30,