Lee Enterprises Incorporated

07/24/2026 | Press release | Distributed by Public on 07/24/2026 14:24

Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.
On July 24, 2026, Lee Enterprises, Incorporated (the "Company") entered into a First Amendment to the Stock Purchase Agreement, dated December 30, 2025, with David H. Hoffmann, Quint Digital Limited, Solas Capital Partners, LP, Blackwell Partners LLC - Series A, Bergen Asset Partners and Niraj Javeri (collectively, the "Investors").
The amendment modifies the standstill provisions contained in the Stock Purchase Agreement. Under the original agreement, certain Investors were permitted to purchase up to 600,000 shares of the Company's common stock in open market transactions during the standstill period.
As amended, Investors that beneficially own more than 10% of the Company's outstanding common stock may continue to purchase up to 600,000 shares during the standstill period. In addition, those Investors may purchase more than 600,000 shares if the additional purchases are made pursuant to a qualified Rule 10b5-1 trading plan approved by the Company. The amendment also clarifies that an Investor may elect to make all permitted purchases, including purchases up to and in excess of 600,000 shares, through such an approved Rule 10b5-1 trading plan. Except as modified by the amendment, the Stock Purchase Agreement remains unchanged.
The foregoing description of the First Amendment to the Stock Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
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