CUMULUS MEDIA INC (CMLS) Form 8-K — Oct 16, 2026
$CMLSForm 8-KItems 1.01, 1.02, 1.03, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 7.01, 8.01, 9.01Filed Oct 16, 2026, 9:47 AM ET0001104659-26-116470Original filing
Cumulus Media emerged from Chapter 11 on October 16, 2026, completing a prepackaged restructuring that canceled approximately $600 million of funded debt in exchange for 100% of the reorganized equity plus $50 million of new 10%/8% PIK toggle convertible notes due 2031. All pre-emergence Class A and Class B common shares were canceled with no distribution to former shareholders — CMLS equity is now worthless and the company will deregister, file a Form 15, and operate as a private company with no listed securities.
Key figures
- Debt Amount
- 100000000
- Interest Rate
- 10% PIK / 8% cash (Convertible Notes)
- Maturity Date
- 2031-07-01
- Convertible Notes Principal
- 50000000
- Funded Debt Canceled
- approximately $600 million
- Abl Facility Maturity
- October 16, 2030
- Abl Facility Principal
- 100000000
- New Class AShares Issued
- 352025
- New Class BShares Issued
- 285975
- Convertible Notes Maturity
- July 1, 2031
- Equity To2029 Secured Claims
- approximately 95%
- Equity To Other Funded Debt Claims
- approximately 5%
- Management Incentive Plan Reserve
- 10% of New Common Stock fully diluted
AI analysis
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