Chanticleer Holdings Announces Unit (HOTRU) to Split Into One Share of Common Stock and One Warrant on Friday, August 3, 2012
August 02 2012 - 8:30AM
Chanticleer Holdings, Inc. (Nasdaq:HOTR) (Nasdaq:HOTRU)
("Chanticleer Holdings" or the "Company"), a minority owner in
Hooters® of America and an international franchisee of Hooters
restaurants, today announces that the 2,444,450 Units
(Nasdaq:HOTRU), each unit consisting of one share of common stock
and one warrant, from its secondary offering will cease trading as
of the closing of the markets on August 2, 2012. Commencing Friday,
August 3, 2012, the 2,444,450 shares of common stock and 2,444,450
warrants will be quoted separately. The common shares will trade
under the symbol "HOTR" with the warrants trading under the symbol
"HOTRW".
Each warrant entitles the holder to purchase one share of common
stock at an exercise price of $5.00. Beginning August 3, 2012
the warrants are exercisable any time until their expiration on
June 21, 2017. The warrants will be redeemable at the
Company's option for $0.01 per warrant upon 30 days' prior written
notice beginning December 21, 2012, provided that the Company's
common stock has closed at a volume weighted average price of at
least $7.75 per share for at least twenty (20) consecutive trading
days.
About Chanticleer Holdings, Inc.
Chanticleer Holdings is focused on expanding the Hooters® casual
dining restaurant brand in international emerging markets.
Chanticleer currently owns all or part of the exclusive franchise
rights to develop and operate Hooters® restaurants in South Africa,
Hungary and parts of Brazil, and has a joint venture with the
current Hooters franchisee in Australia, while evaluating several
additional international opportunities. The Company currently
owns and operates in whole or part five Hooters restaurants in its
international franchise territories: Durban, Johannesburg, Cape
Town and Emperors Palace in South Africa; and Campbelltown,
Australia. The Company has announced planned Hooters locations
in Surfers Paradise, Australia and Budapest,
Hungary.
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),
a privately held company. Today, HOA is the franchisor and operator
of over 430 Hooters® restaurants in 27 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."
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CONTACT: For Additional Information, Please Contact:
Company Contact:
Shannon DiGennaro, V.P. Investor Relations
Phone: 704.941.0959
sd@chanticleerholdings.com
Investor Contact:
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
858-794-9500
bprag@delmarconsulting.com
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