Quint Digital Limited has successfully completed its strategic acquisition of a significant stake in Lee Enterprises, Incorporated, marking a notable expansion into the American media market. The company announced the completion of this transaction on February 6, 2026, following its initial intimation dated December 30, 2025.

Acquisition Details

The acquisition involved the purchase of 2,451,346 common shares in Lee Enterprises through a private placement offer. The transaction details are structured as follows:

About Lee Enterprises

Lee Enterprises, Incorporated is a Delaware corporation listed on NASDAQ under the ticker LEE. The company operates as a major subscription and advertising platform and serves as a leading provider of local news and information through daily newspapers and rapidly growing digital products.

Financial Performance

Lee Enterprises has demonstrated substantial revenue generation over the past three years:

Strategic Rationale

The acquisition aligns with both companies' operational objectives in the media and publishing industry. The funds from this investment will be utilized by Lee Enterprises for working capital and general corporate purposes, including payment of customary fees. This transaction does not constitute a related party transaction, and no promoter or group companies have any interest in the acquired entity.

Company Background

Lee Enterprises, headquartered in Davenport, Iowa, has established itself as a leading provider of trusted local news and information, complemented by fast-growing digital media and advertising platforms. Founded in 1890, the company has a rich history of innovation and community service, including pioneering computer-based newspaper production in 1973. The company offers a comprehensive suite of digital marketing services, content management solutions, and custom content creation on a national scale, consistently ranking among top performers in its industry.

The acquisition has been completed without requiring any governmental or regulatory approvals, and the transaction was executed entirely through cash consideration. This strategic investment represents Quint Digital Limited's continued expansion in the media sector and strengthens its presence in the American market through partnership with an established industry leader.

Quint Digital Limited has formally announced its strategic investment in Lee Enterprises Inc., marking a significant expansion into the US media market. The company filed a regulatory intimation with BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the Board of Directors' approval of this definitive stock purchase agreement during a meeting held on December 30, 2025, from 4:00 PM to 4:30 PM IST.

Investment Transaction Details

The investment involves Quint Digital's participation in a private placement offering by Lee Enterprises, a Delaware corporation listed on NASDAQ. The transaction demonstrates the strategic nature of this cross-border partnership:

About Lee Enterprises Inc.

Lee Enterprises Inc. operates as a major subscription and advertising platform, serving as a leading provider of local news and information across the United States. Founded in 1890 and headquartered in Davenport, Iowa, the company has established itself as an industry leader with comprehensive digital and traditional media offerings.

Financial Performance Overview

Lee Enterprises has demonstrated substantial revenue generation in recent years:

Business Operations and Market Presence

The company maintains a strong presence in the media and publishing industry through:

• Daily newspapers and rapidly growing digital products
• Nearly 350 weekly and specialty publications
• Coverage across 72 markets in 25 states
• Full suite of digital marketing services and content management solutions
• Pioneering computer-based newspaper production since 1973

Strategic Investment Framework

The private placement is structured as a strategic investment led by anchor investor David Hoffmann, who has committed approximately $35.00 million. This investment structure includes participation from existing investors alongside Quint Digital Limited. Lee Enterprises plans to utilize the $50.00 million gross proceeds for working capital and general corporate purposes, including payment of customary transaction fees.

Regulatory Compliance and Disclosure

The transaction remains subject to customary closing conditions and stockholder approval. This announcement fulfills disclosure requirements under Regulation 30 of the Securities and Exchange Board of India regulations, with the information made available on Quint Digital Limited's website at www.quintdigital.in . The filing confirms this is not a related party transaction and requires no specific governmental or regulatory approvals for completion.