Urban One completed debt restructuring, exchanging most notes for new ones and cash, and eased debt terms.

Urban One, Inc. completed its debt restructuring on December 15, 2025, with about 97.6% of its $488 million in outstanding 7.375% notes tendered or consenting. The $185 million cash tender offer was oversubscribed, leading to prorated acceptance. Holders exchanged notes for new 7.625% second lien notes and cash, while $4.4 million in new 10.5% first lien notes were subscribed, with the remaining $56.2 million to be purchased by supporting noteholders. The company secured consent to eliminate most restrictive covenants and change of control provisions in the debt agreement.