Benzinga | Aug 18, 2020 09:20AM EDT

Urban One, Inc. Announces $25M At-The-Market Equity Offering Program

WASHINGTON, Aug. 18, 2020 /PRNewswire/ --Urban One, Inc. (NASDAQ:UONE) announced today that it has filed a prospectus supplement with the Securities and Exchange Commission ("SEC"), pursuant to which it may offer and sell shares of its Class A common stock (the "Class A Shares") having an aggregate offering price of up to $25,000,000 from time to time through an "at-the-market" equity offering program (the "ATM Program"). The Company currently intends to use the net proceeds from sales of the Class A Shares under the ATM Program for general corporate purposes, including repayment of indebtedness. The timing of any sales will depend on a variety of factors.