Chanticleer Holdings Raises $1.4 Million in Above Market Financing with Insider Participation
CHANTICLEER HOLDINGS INC (BURG)
Last chanticleer holdings inc earnings: 11/14 04:00 pm
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US:NASDAQ Investor Relations:
chanticleerholdings.com/investor-relations
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Source: GlobeNewswire
CHARLOTTE, N.C., May 08, 2018 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the “Company”), owner, operator, and franchisor of multiple nationally recognized restaurant brands with 56 locations in the U.S. and abroad, today announced it has raised $1.4 million dollars in a registered direct financing to accredited and institutional investors at $3.50 a share. Investors will receive 100% warrant coverage in a concurrent private placement. Warrants have an exercise price of $4.50 and are exercisable six months after the date of issuances for a term of 5 years. Mike Pruitt, Chanticleer Chief Executive Officer stated, “We are pleased to have raised $1.4 million in an institutionally led above market transaction that reflects confidence in the company's future. Importantly, the proceeds provide capital to fund growth and construction of the new stores in our pipeline. We expect to add 6-10 more new Little Big Burgers locations, significantly increa
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