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Quint Digital to invest nearly $8 million in US publisher Lee Enterprises
The private placement is being led and backstopped by anchor investor David Hoffmann, who has committed about $35 million
Quint Digital will invest approximately $7.97 million to acquire 2,451,346 shares of Lee Enterprises.
Quint Digital Ltd (QDL) said it has entered into a definitive stock purchase agreement with US-based Lee Enterprises Inc to participate in a $50 million private placement, marking a significant strategic investment by the Indian media-tech company in the American local news market.
Under the transaction, Quint Digital will invest approximately $7.97 million to acquire 2,451,346 shares of Lee Enterprises’ common stock at $3.25 per share. Following completion of the deal, QDL’s stake in the Nasdaq-listed publisher will rise to 14.85%.
The private placement is being led and backstopped by anchor investor David Hoffmann, who has committed about $35 million. Existing investors, including Quint Digital, are also participating in the fundraise.
Subject to customary closing conditions and shareholder approval, Lee Enterprises expects to receive the full $50 million in gross proceeds at the close of the transaction, before expenses. The deal is expected to be completed within 45 to 60 days.
Headquartered in Davenport, Iowa, Lee Enterprises is a major subscription and advertising platform and one of the leading providers of local news and information in the United States. Founded in 1890, the company operates a broad portfolio of daily newspapers and digital products, and offers digital marketing services, content management solutions and custom content creation across local markets nationwide.
Lee reported consolidated operating revenue of $562.3 million for the year ended September 28, 2025, down from $611.4 million in 2024 and $691.1 million in 2023, respectively.
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