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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: MacroRisk Analytics/EconomicInvestor

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Chanticleer Holdings Inc signs binding letter of intent to acquire spoon bar & kitchen

Thursday, 5 Dec 2013 09:00am EST 

Chanticleer Holdings Inc:Signs a binding letter of intent to purchase all of the outstanding shares of Dallas Spoon LLC and Dallas Spoon Beverage, LLC (collectively Dallas Spoon), the companies which own and operate Spoon Bar & Kitchen in Dallas, Texas.Intends terms of the preliminary agreement call for Chanticleer to issue 195,000 HOTR units to Dallas Spoon, with each unit consisting of one share of common stock, and one five-year warrant, 97,500 of which are exercisable at $5.50 and 97,500 exercisable $7.00.Says value of the share exchange will be dependent upon Chanticleer Holding's stock price at date of closing.Says closing and final terms are anticipated on or before Dec. 31, 2013, pending approval by Chanticleer's Board of Directors, and review by the NASDAQ Stock Market and the SEC. 

Company Quote

-0.04 -1.98%
2:47pm EDT