Wednesday October 15 10:26 AM EDT
Company Press Release
Schlotzsky's Concludes Secondary Offering of Common Stock
AUSTIN, Texas--(BUSINESS WIRE)--Oct. 15
Schlotzsky's, Inc. today announced the successful completion of its secondary offering of shares of common stock.
The offering included an option for a 15 percent over-allotment of shares that were recently exercised by the underwriters of the offering: Raymond James & Associates, Inc., Morgan Keegan & Company,
Inc., and Rauscher Pierce Refsnes, Inc.
Schlotzsky's, Inc. sold a total of 2,645,000 shares at a price of $18.375 per share (before underwriting discounts and commissions). Of the shares sold, 1,731,825 were newly issued shares offered by the Company and 913,175 were offered by selling shareholders.
There are now 7,310,624 shares of common stock outstanding.
Proceeds of the offering will be used to acquire and develop stores for resale under the Company's Turnkey Real Estate Development Program, to acquire and develop a limited number of company-owned stores, and to repay debt.
Schlotzsky's, Inc. is a franchisor of quick service restaurants that feature made-to order sandwiches served on distinctive sourdough bread, along with pizzas, salads and soups.
There are currently 644 Schlotzsky's(R) restaurants worldwide.
Contact:
Schlotzsky's, Inc.
Monica Gill, 512/469-7559
or
Laura Bernstein, 512/469-7592
2.645 million shares sold; at 18 3/8? |
