Quint Digital Limited (QDL) has signed a definitive stock purchase agreement to invest approximately $7.97 million in Lee Enterprises Inc. (LEE), a prominent US-based media and publishing company. The deal forms part of LEE’s $50 million private placement round aimed at boosting its working capital and corporate operations.
Quint Digital Limited, a leading Indian media-tech and digital content company, announced that its Board approved participation in Lee Enterprises Inc.’s private placement offer. The agreement was finalized at a board meeting held on December 30, 2025.
LEE, headquartered in Iowa, USA, is a NASDAQ-listed company with annual revenues of about $562 million as of FY2025. It operates a vast portfolio of local news platforms, digital products, and advertising solutions across the United States.
Key Highlights
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QDL will invest approximately $7.97 million in cash for subscribing to 2,451,346 common shares of LEE at $3.25 per share.
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Post-acquisition, Quint Digital’s shareholding in LEE will rise to 14.85 percent.
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The overall private placement totals $50 million, led by anchor investor David Hoffmann with a $35 million commitment.
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Funds raised will support LEE’s working capital and general corporate requirements.
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The transaction is expected to close within 45–60 days, subject to customary approvals.
This move marks Quint Digital’s continued expansion into global media investments, reinforcing cross-market synergies between Indian and US digital news ecosystems.
Source: Quint Digital Limited filing with BSE, NASDAQ, Lee Enterprises Inc.