Quint Digital to invest $7.97 million in Lee Enterprises’ $50 million private placement

New Delhi: Quint Digital (QDL) has signed a definitive stock purchase agreement with US-based Lee Enterprises Inc. to participate in a $50 million private placement, as per a BSE filing.

QDL said it has committed about $7.97 million in the round at an investment price of $3.25 per share. The investment involves subscription to 2,451,346 shares of Lee’s common stock.

LEE is a provider of local news and information, complemented by digital media and advertising platforms. The company offers digital marketing services, content management solutions, and custom content creation on a national scale.

Post completion of the transaction, QDL’s stake in Lee Enterprises is expected to rise to 14.85%, the company said.

QDL informed the exchange that its board approved the signing of the definitive agreement at a meeting held on December 30, 2025. The indicative time period for completion has been stated as 45–60 days.

The private placement is being led and backstopped by anchor investor David Hoffmann, who has committed about $35 million, along with participation from existing investors, including QDL. 

Lee expects to receive the full $50 million of gross proceeds at closing, subject to customary closing conditions and stockholder approval.

In its disclosure, QDL said the funds raised will be used by Lee for working capital and general corporate purposes, including payment of customary fees.

Lee Enterprises, headquartered in Davenport, Iowa, is listed on Nasdaq under the ticker LEE and is positioned as a local news and information company with daily newspapers and digital products. 

QDL’s disclosure cited Lee’s consolidated operating revenue at $562.341 million for the year ended September 28, 2025.