Spicy Pickle(R) Serves Up Its Initial Public Offering
24 Setembro 2007 - 11:30AM
PR Newswire (US)
Company Listed On OTC Bulletin Board Under Ticker Symbol SPKL
DENVER, Sept. 24 /PRNewswire-FirstCall/ -- Spicy Pickle(R) fast
casual restaurants (OTC:SPKL) (BULLETIN BOARD: SPKL) today
announced the commencement of public trading for its common stock
on the Over The Counter Bulletin Board (OTC BB) quotation medium.
The company completed its own self underwritten Initial Public
Offering, and the stock recently opened for trading. Empire
Financial Group Inc. (http://www.empirefinancialgroup.com/) of
Longwood, Florida, served as sponsoring brokerage firm for
quotation of Spicy Pickle's common stock on the OTC BB. Spicy
Pickle completed its own IPO by selling 4,352,780 shares of its
common stock, priced at $.40, for gross proceeds of $1,741,112.
Spicy Pickle, a fast casual franchise concept, has been
experiencing significant growth. To date there are 26 units open in
nine different states. The restaurants differentiate themselves
through a culinary-inspired menu of panini, sub sandwiches,
Pizzetti Neapolitan thin-crust pizzas, salads, soups and other
items, served in a casual neighborhood setting. Spicy Pickle also
offers a range of catering and takeout services. "Spicy Pickle's
IPO is an appropriate step at this point in time, given the
company's growth curve and success to date," said Marc Geman,
President and CEO of Spicy Pickle Inc. "Since our inception in
1999, Spicy Pickle has evolved from a one-store operation in Denver
to a chain of restaurants known from coast to coast for its fresh,
healthy and innovative approach to lunch and dinner. The capital
raised through our public offering will help maintain this unique
positioning. We chose to go public at this time to allow investor
participation and more efficient access to financing sources as we
seek appropriate sources of capital to fuel our growth." By the end
of 2007, Spicy Pickle anticipates opening approximately 14 more
units, bringing its network to 40 restaurants in 13 states. Nearly
50 franchise development agreements have also been signed. In
addition to its franchise activity, Spicy Pickle currently has a
breakfast menu in test, potentially opening a new daypart for the
chain. The company is also in the process of building a major
commissary in Denver to cost-effectively supply its local
restaurants with panini, sandwich breads and sweet treats, baked
daily according to Spicy Pickle's high standards. All other units
nationwide will continue to bake their panini and sandwich breads
in-house. The Denver commissary is expected to open by the end of
the year. About Spicy Pickle: Founded in 1999, Spicy Pickle
Franchising, Inc. (OTC:SPKL) (BULLETIN BOARD: SPKL) serves high
quality meats and fine artisan breads, baked fresh daily, along
with a wide choice of eight different cheeses, twenty-two different
toppings, and fourteen proprietary spreads to create healthy and
delicious panini and sub sandwiches with flavors from around the
world. As a leading "fast-casual" concept, Spicy Pickle offers menu
items that are far beyond traditional fast food -- but without the
price point of casual dining. The hallmark of a Spicy Pickle
restaurant is quality, service and an enjoyable atmosphere. The
company is headquartered in Denver, Colorado, with franchised
locations now open across nine states and many more in development
nationwide. For more about Spicy Pickle, including franchise
information and inquiries, visit http://www.spicypickle.com/.
Forward-Looking Statements: Certain statements in this press
release, including statements regarding the number of restaurants
we intend to open, are forward-looking statements. We use words
such as "anticipate", "believe", "could", "should", "estimate",
"expect", "intend", "may", "predict", "project", "target", and
similar terms and phrases, including references to assumptions, to
identify forward-looking statements. The forward-looking statements
in this press release are based on information available to us as
of the date any such statements are made and we assume no
obligation to update these forward-looking statements. These
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those described in the
statements. These risks and uncertainties include, but are not
limited to, the following: factors that could affect our ability to
achieve and manage our planned expansion, such as the availability
of a sufficient number of suitable new restaurant sites and the
availability of qualified franchisees and employees; risks relating
to our expansion into new markets; the risk of food-borne illnesses
and other health concerns about our food products; changes in the
availability and costs of food; changes in consumer preferences,
general economic conditions or consumer discretionary spending; the
impact of federal, state or local government regulations relating
to our franchisees and employees, and the sale of food or alcoholic
beverages; the impact of litigation; our ability to protect our
name and logo and other proprietary information; the potential
effects of inclement weather; the effect of competition in the
restaurant industry; and other risk factors described from time to
time in our SEC reports. COMPANY CONTACT: Marc Geman, CEO Spicy
Pickle Franchising, Inc. 303-297-1902 Ext. 7000 DATASOURCE: Spicy
Pickle Franchising, Inc. CONTACT: Jill Schmidt of S&S Public
Relations, +1-847-415-9311, , or Marc Geman, CEO of Spicy Pickle
Franchising, Inc., +1-303-297-1902 Ext. 7000, Web site:
http://www.spicypickle.com/
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