Investor Presentaiton
How Does Gray Grow...
$175.6 million (1) common equity raised March 31, 2015
•
13.5 million shares of Gray Common Stock issued at $13.00 per share
•
Intend to seek Free Cash Flow accretive acquisitions
December 31, 2014
($ in millions)
Actual $
As Adjusted(2)
Cash
$30.8
$198.1
Total Debt @ par
1,231.4
1,231.4
Market Equity
760.5(3)
936.2(4)
Market Capitalization
1,991.9
2,167.6
Debt net cash
$1,200.6
$1,033.3
(1)Gross proceeds; estimated net proceeds after underwriting discounts, fees and expenses $167.3 million.
(2) Adjusted for Gray equity issuance of Common Stock 3-31-2015.
(3) Combined Common Stock and Class A Common Stock totaling 58.5 million shares at $13.00 per share.
(4) Total shares outstanding adjusted for issuance of 13.5 million shares of Common Stock at $13.00 per share.
Gray Television, Inc.
gray
Television Digital Mobile
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