Gray Completes $175.6M Stock Offering

Gray Television Inc. said it has completed its previously announced underwritten public offering of shares of its common stock at $13 per share. Gray issued 13.5 million shares. The company said the proceeds are approximately $175.6 million and it will use the money for general corporate purposes that could include repayment of outstanding debt, capital expenditures, the financing of possible future business expansions and acquisitions, increasing working capital and the financing of ongoing operating expenses and overhead.

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