Chanticleer Holdings Announces Pricing for Rights Offering
10 Junho 2019 - 9:30AM
Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the
“Company”), owner, operator, and franchisor of multiple nationally
recognized restaurant brands today announced that it intends to
offer up to $16,000,000 of shares of its common stock in a rights
offering at $1 a share to its shareholders of record and certain
warrant holders. Under the proposed rights offering, Chanticleer
will distribute to its shareholders of record and certain warrant
holders, at no charge, three non-transferable subscription rights
for each share of common stock held or deemed to be held on the
record date. Each right will entitle the holder to purchase one
share of Chanticleer’s common stock at $1 per share.
The Company anticipates holding a conference call to discuss the
proposed acquisition upon the SEC declaring its S1 effective. The
rights offering is anticipated to close on June 24, 2019.
The record date for the rights offering was June 7, 2019. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the completed
offering. Details of the rights offering are set out in the S-1
registration statement filed with the SEC, which is available on
the SEC’s web site at http://www.sec.gov.
Chanticleer is conducting the rights offering to raise capital
that it intends to use for strategic acquisitions and general
corporate purposes, which may include funding the Company's growth
plan, working capital and capital expenditures and funding
operations until the Company becomes cash flow positive from
operations (excluding capital expenditures). Management has
identified and is exploring a potential acquisition pursuant to a
non-binding letter of intent. If negotiations are successful and
the transaction is completed, management would anticipate
allocating approximately $7 million of the proceeds of this rights
offering to complete the acquisition. There can be no assurances
that the acquisition will be completed.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. The securities
may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities
laws of any such state.
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings owns,
operates, and franchises fast, casual, and full-service restaurant
brands, including American Burger Company, BGR – Burgers Grilled
Right, Little Big Burger, Just Fresh, and Hooters. For more
information, please visit:
www.chanticleerholdings.com.
Forward-Looking Statements:
Some portions of this press release, particularly those
describing Chanticleer's goals and strategies, contain
'forward-looking statements.' These forward-looking statements can
generally be identified as such because the context of the
statement will include words, such as 'expects,' 'should,'
'believes,' 'anticipates' or words of similar import. Similarly,
statements that describe future plans, objectives or goals are also
forward-looking statements. While Chanticleer is working to achieve
those goals and strategies, actual results could differ materially
from those projected in the forward-looking statements as a result
of a number of risks and uncertainties. These risks and
uncertainties include conditions and servicing of current debt
obligations, maintaining and protecting brand recognition, the need
for significant capital, increasing costs of fuel and freight,
protection of intellectual property, competition and other factors,
any of which could have an adverse effect on the business plans of
Chanticleer, its reputation in the industry or its expected
financial return from operations and results of operations. In
light of significant risks and uncertainties inherent in
forward-looking statements included herein, the inclusion of such
statements should not be regarded as a representation by
Chanticleer that they will achieve such forward-looking statements.
For further details and a discussion of these and other risks and
uncertainties, please see our most recent reports on Form 10-K,
Form 10-Q and Form S-1, as filed with the Securities and Exchange
Commission, as they may be amended from time to time. Chanticleer
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
Contact Information:
Investor Relations Jason Assad 678-570-6791
Ja@chanticleerholdings.com
Chanticleer (NASDAQ:BURG)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Chanticleer (NASDAQ:BURG)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024