ViacomCBS is looking to beef up its streaming investment by raising $3 billion in stock offerings. ViacomCBS said it intends to use the combined net proceeds from the offerings for general corporate purposes, including investments in streaming. ViacomCBS launched Paramount+, a reconstituted version of CBS All Access, on March 4.
Gray Television said Wednesday it completed its previously announced public offering of 17.25 million shares of its common stock at $14.50 per share. Gross proceeds were approximately $250.1 million. It said it will use the money “for general corporate purposes, and such net proceeds may be used from time to time for, among other things, repayment of outstanding debt, capital expenditures, the financing of possible future business expansions and acquisitions, increasing our working capital and the financing of ongoing operating expenses and overhead.”
Gray Television announced Wednesday that it has priced its previously announced public offering of 15 million shares of common stock at $14.50 per share. The offering is expected to close on Dec. 4. Gross proceeds are expected to be approximately $217.5 million (or approximately $250.1 million if the underwriters exercise their option to purchase additional shares). Gray said it intends to use the proceeds for, among other things, repayment of outstanding debt, capital expenditures, financing possible business expansions and acquisitions, increasing working capital and financing ongoing operating expenses and overhead.
Gray Television on Monday said it has underwritten a public offering of 15 million shares of common stock. In addition, Gray said it expects to grant the underwriters an option for 30 days to purchase up to an additional 2.25 million shares. It said it expects to use the money raised to purchase additional shares for general corporate purposes.