Hoffmann Family of Companies Proposes Equity Investment to Support Recapitalization of Lee Enterprises

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Hoffmann Family of Companies Proposes Equity Investment to Support Recapitalization of Lee Enterprises

July 18, 2025

ST. LOUIS (July 18, 2025) – Hoffmann Family of Companies ("HF Companies"), a U.S.-based family equity firm and significant shareholder of Lee Enterprises, Incorporated (NASDAQ: LEE), today confirmed that it has submitted a letter to the Company’s Board of Directors expressing interest in supporting a potential recapitalization of the Company.

The proposal outlines a $25 million investment in newly issued common equity at a price of $2.00 per share, alongside a $25 million fully backstopped rights offering to existing shareholders at the same price. This structure implies a pre-money enterprise valuation of approximately $462 million, based on Lee’s current debt obligations and outstanding shares.

HF Companies believes this proposal offers a fair, transparent, and constructive path toward recapitalizing Lee Enterprises—enhancing long-term financial stability and supporting continued investment in the Company’s digital transformation strategy.

The proposal assumes cooperation from both BH Finance, Lee’s senior lender, and the Company’s Board and management. HF Companies believes this transaction provides all stakeholders—including existing shareholders—with a meaningful opportunity to participate in a value-preserving solution.

There is no assurance that any transaction will be completed.

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About Hoffmann Family of Companies

Hoffmann Family of Companies is a multi-vertical, family-owned private equity firm consisting of over 120 global brands and employs 17,000 employees with businesses located in 30 countries and 400 locations around the world. Hoffmann Family of Companies’ verticals include Agriculture, Aviation & Transportation, Financial & Professional Services, Hospitality & Entertainment, Manufacturing, Marine, Media & Marketing and Real Estate. For more information, visit HFCompanies.com.

About Hoffmann Media Group

Hoffmann Media Group—part of Hoffmann Family of Companies—is a dynamic and innovative media company committed to delivering high-quality journalism and content. With a strong focus on community engagement, the group operates a diverse portfolio of publications and media platforms, connecting audiences through trusted reporting and meaningful storytelling. Hoffmann Media Group publishes variety of publications, including The Napa Valley Register, St. Helena Star, Florida Weekly, Babcock Ranch Telegraph, Ave Maria Sun, Town Chronicle, St. Ignace News, Mackinac Island Town Crier, Florida Health Care News, and iFoundMyDoctor.com. These publications span over 30 markets and focus on delivering high-quality local news and content.

For More Information:
Rachel Berkowitz | HF Companies PR | [email protected]

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