Today before the opening bell, Chanticleer Holdings announced the closing of a private offering. Pursuant to the Subscription Agreement entered with three accredited investors, the Company sold an aggregate of 160,000 Units at a purchase price of $5.00 per Unit, closing a $800,000 private placement.
Each Unit purchased by the investors consist of (a) 1 share of the Company’s common stock, $0.001 par value per share and (b) 1 5-year warrant to purchase 1 share of common stock. 80,000 warrants are available at an initial exercise price of $5.50, while the remaining 80,000 warrants are available at an initial exercise price of $7.00. Additional information can be found in the recent Form 8-K filed.
Mike Pruitt, the Company’s CEO stated, “Having access to capital at favorable rates allows us to continue to pursue opportunities as they present themselves.”
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