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Good Times Restaurants Inc Closes $5.5 Million Public Offering

Wednesday, 21 Aug 2013 01:50pm EDT 

Good Times Restaurants Inc announced that it has completed a public offering of 2,200,000 shares of common stock at a price per share of $2.50, together with warrants to purchase 2,530,000 shares of common stock at $2.75 per share (A Warrants) and additional warrants to purchase 1,265,000 shares of common stock at $2.50 per share (B Warrants) for gross proceeds to the Company of $5,504,950, which includes the partial exercise of the underwriters` over-allotment option with respect to 330,000 A Warrants and 165,000 B Warrants. The Company`s common stock is listed on the Nasdaq Capital Market under the symbol GTIM. Good Times intends to use the net proceeds from the offering for the development of new Bad Daddy`s Burger Bar restaurants associated with the Company`s previously announced Bad Daddy`s joint venture transaction, restaurant remodeling of its Good Times Burgers & Frozen Custard restaurants, Bad Daddy`s franchise development entity capitalization and general working capital. Maxim Group LLC acted as the sole book running manager in the offering. 

Company Quote

0.04 +0.68%
28 Nov 2014