NEW YORK – Broadcaster Pegasus Communications Corp. filed documents with the SEC Tuesday to raise $100 million in preferred stock, just two months after raising $42 million in an initial public offering.
Pegasus, which owns five Fox affiliates, cable systems in Puerto Rico and New England and DirecTV franchise agreements in the Northeast, says it plans to use the money raised from the latest capital-raising to “fund acquisitions” and repay debt. It has about $115 million of debt on its balance sheet.
Pegasus stock went public in early October at $14 a share. It closed Tuesday unchanged at $13.