Chanticleer Holdings Announces $11,000,000 Public Offering of Units and Listing on NASDAQ With New Symbol
21 Juin 2012 - 3:35PM
Chanticleer Holdings, Inc. (Nasdaq:HOTR) ("Chanticleer Holdings" or
the "Company"), a business operator focused on expanding the
Hooters casual dining restaurant brand in international markets,
announces the pricing of an underwritten public offering of
2,444,450 units at an offering price of $4.50 per unit, with each
unit consisting of one share of common stock and one warrant to
purchase one share of common stock. The units will begin trading on
The NASDAQ Capital Market on June 21, 2012 under the symbol
"HOTRU". The common stock and warrants will not be separately
transferable for a minimum of 30 days, unless the
representatives of the underwriters determine that an earlier date
is acceptable, and no later than 45 days from the date of
the prospectus. Each warrant will have an exercise price of
$5.00 per share, will be exercisable upon separation of the units,
and will expire in five years. When separately transferable,
the warrants will trade on The NASDAQ Capital Market under the
symbol "HOTRW".
The gross proceeds to Chanticleer Holdings from this offering is
expected to be approximately $11 million, before deducting
underwriting discounts, commissions, and other estimated offering
expenses. Chanticleer Holdings has granted the underwriters a
45-day option to purchase up to 366,667 additional units to cover
over-allotments, if any. All of the units in this offering are
to be sold by Chanticleer Holdings.
The Company plans to use net proceeds from this offering for
investment in Hooters international franchises, pay off existing
debt, and for general corporate working capital.
Merriman Capital, Inc. and Dawson James Securities, Inc. acted
as joint book runners in this offering.
Chanticleer Holdings is also announcing that, effective, today,
its common stock will begin trading on The NASDAQ Capital Market
under the symbol "HOTR". In connection with its listing on the
NASDAQ Capital Market, Chanticleer Holding's common stock will
cease trading on the OTC QB.
A registration statement on Form S-1 relating to the units was
filed with Securities and Exchange Commission and is
effective. A preliminary prospectus related to the offering
has been filed with the Securities and Exchange Commission and is
available on the SEC's website at http://www.sec.gov. Copies
of the final prospectus relating to the offering, when available,
may be obtained from the offices of Dawson James
Securities. Contact Bret Shapiro in the Syndicate Department,
925 South Federal Highway – 6th Floor, Boca Raton, FL 33432,
telephone 561-208-2936, or bshapiro@DawsonJames.com
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 or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to their registration
or qualification under the securities laws of any such state or
jurisdiction.
About Chanticleer Holdings, Inc.
Chanticleer Holdings (Nasdaq:HOTR) a business operator focused
on expanding the Hooters casual dining restaurant brand in
international markets. Chanticleer currently has rights to develop
and operate Hooters restaurants in South Africa and has joint
ventured with the current franchisee in Australia. The company also
has franchise rights to develop Hungary and parts of Brazil while
evaluating several additional opportunities internationally.
In 2011, Chanticleer and a group of noteworthy private equity
investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly
Hall, president of Texas Wings Inc., the largest Hooters franchisee
in the United States, acquired Hooters of America (HOA). Today, HOA
is the franchisor and operator of over 450 Hooters restaurants in
44 states and 28 foreign countries. Chanticleer maintains a
minority ownership stake in HOA and its CEO, Mike Pruitt, is also a
member of HOA's Board of Directors. For further information, please
visit www.chanticleerholdings.com or www.hooters.com and follow us
on Twitter at @ChantHoldings or @Hooters.
Safe Harbor Statement
This press release contains forward-looking statements subject
to the inherent uncertainties in predicting future results and
conditions. Any statements that are not statement of historical
fact (including statements containing the words "believes,"
"plans," "anticipate," "expects," "estimates," and similar
expressions) should also be considered to be forward-looking
statements. Certain factors could cause actual results and
conditions to differ materially from those projected in these
forward-looking statements. These factors are identified from time
to time in our filings with the Securities and Exchange Commission.
We undertake no obligation to update such statements to reflect
subsequent events. Further information on our business,
including important factors which could affect actual results are
discussed in the Company's filings with the SEC, including its
Annual Report on Form 10-K under the headings "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations."
CONTACT: Shannon DiGennaro
VP Investor Relations
Phone: 704.941.0959
sd@chanticleerholdings.com
Chanticleer Holdings - Unit (MM) (NASDAQ:HOTRU)
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