Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events
On February 24, 2023, we issued
 irrevocable notice of redemption to redeem in full the 2024 Notes in an aggregate principal amount of $36.5 million. The redemption date will be March 27, 2023 and the redemption price will be equal to 100% of the principal amount of the 2024 Notes being redeemed, plus accrued but unpaid interest thereon to the redemption date. Upon the redemption, the 2024 Notes will cease to be of further effect except as to any rights surviving thereunder. We expect to pay the redemption price for the 2024 Notes through issuance of a draw notice pursuant to the purchase agreement, dated as of September 10, 2021 to issue and sell to the Purchasers $44.7 million in aggregate principal amount of additional 7.125% 2028 Notes. The closing of the Additional Notes Issuance is subject to the satisfaction of customary closing conditions and there can be no assurance that the Additional Notes Issuance will be completed as contemplated or at all. After the closing of the additional Notes, we expect to have an excess of approximately $4 million to pay down the ABL revolver.
On February 1, 2023, closed on the acquisition of the George Gilder Report and other digital newsletters and related website assets. We assumed the deferred subscription liabilities paying no cash at the time of closing. The purchase price is 25% of net revenue generated from sales of most Eagle Financial products during the next year to people who are on George Gilder subscriber lists that are not already on Eagle Financial lists.
On January 19, 2023, we repurchased $2.5 million of the 2024 Notes at 97.25% of face value recognizing a gain of $20,000 after adjusting for debt issue costs.

On January 10, 2023, we closed on the acqui
ition of radio stations
and two FM translators in Miami, Florida for $
3.0 million.
On January 6, 2023, we closed on the acquisition of radio station
and an FM translator in Miami, Florida for $3.2 million.
Subsequent events reflect all applicable transactions through the date of the filing.