Key Developments: Rick's Cabaret International Inc (RICK.OQ)

RICK.OQ on NASDAQ Stock Exchange Global Market

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Latest Key Developments (Source: Significant Developments)

Rick's Cabaret International Inc's Subsidiary To Acquire 11 Gentlemen's Clubs In Single Transaction
Thursday, 9 Aug 2012 04:02pm EDT 

Rick's Cabaret International Inc announced that its new subsidiary Jaguars Acquisitions, Inc. (JAI) and certain other subsidiaries will acquire nine operating locations and two other licensed locations under development in a single transaction. Ten of the clubs are in Texas and the eleventh is in Phoenix, AZ. The subsidiaries will pay a total of $26 million for the clubs and $10 million for associated real estate, with $4.35 million to be paid in cash upon closing of the transaction and the remainder through seller notes at 9.5% interest payable over 12 years. The seller notes may be prepaid after five years.  Full Article

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