Urban One: Drops on equity offering announcement

Urban One

18/08/2020 15:58

** Shares of media co  UONEK.O  down 2.7% at $1.46 in
morning trade, declines for fourth consecutive session
    ** Urban One says it may offer and sell Class A Shares
having an aggregate offering price of up to $25 mln from time to
time through an "at-the-market" equity offering program
    ** Co intends to use proceeds from sales for general
corporate purposes, including repayment of indebtedness
 urn:newsml:reuters.com:*:nPn57n0pVa
    ** Says timing of any sales will depend on variety of
factors, and sales prices may vary
    ** Jefferies acting as sales agent
    ** Stock has fallen ~21% YTD, as of last close

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05))