Diversified Restaurant Holdings Inc Completes Follow-On Equity Offering

Tuesday, 23 Apr 2013 04:15pm EDT 

Diversified Restaurant Holdings Inc announced that the completion of an underwritten public offering of 6.0 million shares of its common stock at a price to the public of $5.00 per share. The gross proceeds to DRH from the offering were $30.0 million, before deducting underwriting discounts and commissions and other offering expenses. The Company has granted the underwriters a 45-day option to purchase, at the offering price, up to an additional 900,000 shares of common stock to cover over-allotments, if any. Dougherty & Company LLC served as sole bookrunner and lead underwriter for the offering. Feltl and Company, Inc. acted as co-manager for the offering. 

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17 Apr 2014