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ADW Capital Seeks Strategic Alternatives Process to Pursue Immediate Sale of PAR Technology

PAR TECH (PAR)  More Company Research Source: PR Newswire
US:NYSE Investor Relations: partech.com/about-us/investors
PDF NEW YORK, Oct. 11, 2018 /PRNewswire/ -- Dear Board and Management of PAR Technology Corporation (NYSE:PAR),As you are aware, ADW Capital Management LLC ("ADW Capital") is the advisor to entities that beneficially own 1,623,000 shares of PAR Technology (NYSE:PAR) or (the "Company") representing approximately 10.3% of the Company's outstanding shares. We made these purchases after completing an exhaustive due diligence process in which we concluded that the Company trades at a deep discount to the sum-of-its-parts excluding Brink, its burgeoning cloud-based SaaS business that we believe could be worth billions of dollars over time. While we recognize that the Company has generated negative shareholder returns since going public 36 years ago and has a track record of serial strategic blunders, we expected the current members of the Board of Directors (many of whom were recently appointed) to take steps to insure a solid future for the Company.  Several months after we acquired our positi [Read more]

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