Today before the opening bell, Chanticleer Holdings told investors that it has successfully completed its previously announced equity financing with accredited investors, receiving the maximum amount allocated under its Private Placement Memorandum, $2.5 million, or 666,667 Units.
Each Unit consists of one share and one five-year warrant, exercisable after twelve months, to purchase one share of common stock at an initial exercise price of $5.00. Chanticleer Holdings will be using the proceeds to continue the development of its restaurant locations as well as for general working capital purposes.
Mike Pruitt, Chairman and Chief Executive Officer of the Company, commented, “We are encouraged by the overwhelming support these accredited investors demonstrated in our business plan. This successful equity financing will allow us to continue on our aggressive growth plan of opening new restaurant locations.”
For more information, visit www.chanticleerholdings.com
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