Gray Television buys back $3.26 million series D perpetual preferreds

By Susanna Moon

Chicago, Aug. 25 - Gray Television, Inc. said it repurchased another 32.56 shares of its series D perpetual preferred stock at the liquidation value of $100,000 per share in a private transaction on Aug. 23.

The company paid about $4.8 million for the preferreds, including accrued dividends of $1.5 million.

The buyback was funded with cash on hand.

After settlement, there are 327.95 of the preferreds outstanding.

Gray is a television broadcast company based in Atlanta.

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