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| Beasley Broadcast Group, Inc. |
| 3033 Riviera Drive, Suite 200, Naples, FL 34103 * (941) 263-5000 |
| Business Description | The company was founded in 1961 and is the 16th largest radio broadcasting company in the United States based on 1998 gross revenues. After giving effect to pending acquisitions in Atlanta and Augusta, we will own and operate 32 stations, 21 FM and 11 AM, located in seven large and mid-sized markets in the eastern United States. |
| Offering Information Company has | |||
| Trading As | BBGI (NASNTL) | Industry | Telecommunications (SIC 4832) |
| Type of Stock Offered | Class A Common Shares | Filing Date | 11/24/99 |
| Domestic Shares Offered | 6,850,000 | Offer Date | 2/10/00 |
| Foreign Shares Offered | 0 | Filing Price | - - |
| Company Shares | 6,850,000 | Offer Price | $15.50 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.046 |
| Gross Proceeds | $106,175,000 | Selling | $0.628 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 | ||
| Revenues | - | - | 62.414 | 73.704 | 81.433 | 59.675 | 67.453 |
| Income from Oper. | - | - | 10.151 | 1.261 | 4.569 | 2.726 | -0.685 |
| Net Income | - | - | 15.558 | 69.314 | -4.771 | -7.633 | -9.811 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 18.09 | 10.488 | 13.03 | ||
| Net Income Growth (%) | - | - | 345.52 | - | - | ||
| Oper. Profit Margin (%) | - | - | 16.26 | 1.71 | 5.61 | - | 4.57 |
| Net Profit Margin (%) | - | - | 24.93 | 94.04 | - | - | - |
| Cash Flow - Oper. | 4.92 | 5.13 | 7.39 | ||||
| Cash Flow - Inv. | -12.53 | -9.37 | -2.02 | ||||
| Cash Flow - Fin. | 4.69 | 0.70 | -4.37 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 193.48 | Current Assets | 27.58 | Current Ratio | 0.84 |
| Total Liab. | 191.70 | Current Liab. | 32.75 | Debt Ratio | 99.08% |
| Total Equity | 1.79 | Working Cap. | -5.18 | Debt to Equity Ratio | 107.39 |
| Cash | 5.76 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to reduce borrowings under our revolving bank credit facility, which will increase debt capacity for future acquisitions and other general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Latham & Watkins |
| Bank's Law Firm | Weil, Gotshal & Manges |
| Auditor | KPMG LLC |
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