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Chanticleer Holdings' Previously Announced Reverse Stock Split Includes Warrants
By: Marketwired .
May. 19, 2017 05:24 PM
CHARLOTTE, NC--(Marketwired - May 19, 2017) - Chanticleer Holdings, Inc. (NASDAQ: HOTRW) ("Chanticleer," or the "Company"), owner, operator and franchisor of multiple branded restaurants in the U.S. and abroad, announced that its previously announced reverse split is also being effected on its publicly traded warrants trading on the NASDAQ Capital Market under the symbol "HOTRW" (the "public warrants"). As a result, the number of public warrants outstanding will be reduced from 2,444,450 to 244,445. Each public warrant will be exercisable for one share of common stock at the exercise price of $50.00. This is effective for trading purposes on Friday, May 19, 2017.
The Company's post-reverse split common stock have a new CUSIP number of 15930P800 and the public warrants have a new CUSIP number of 15930P164.
Securities Transfer Corp., Chanticleer's transfer agent, will act as the exchange agent for the reverse stock split. Please contact Securities Transfer Corp. for further information at (469) 633-0101.
Additional information regarding the Reverse Split can be found in the Company's Current Report on Form 8-K filed with the SEC on May 18, 2017 and the Company's Definitive Proxy Statement on Schedule 14A (Form DEF 14A) filed with the SEC on April 19, 2017. The Company's SEC filings may be accessed in the "Investors" section of the Company's website.
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), owns, operates and franchises fast casual and full service restaurant brands, including American Burger Company, BGR - Burgers Grilled Right, Little Big Burger, Just Fresh and Hooters.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include projections, predictions, expectations or statements as to beliefs or future events or results or refer to other matters that are not historical facts. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from those contemplated by these statements. The forward-looking statements contained in this press release are based on various factors and were derived using numerous assumptions. In some cases, you can identify these forward-looking statements by the words "anticipate", "estimate", "plan", "project", "continuing", "ongoing", "target", "aim", "expect", "believe", "intend", "may", "will", "should", "could", or the negative of those words and other comparable words.
Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management's expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, increased sales and marketing expenses, and the expected results from the integration of our acquisitions.
Forward-looking statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. These factors include, but are not limited to, the Company's ability to manage growth; integrate acquisitions; manage debt; meet development goals; and other important risks and uncertainties referenced and discussed under the heading titled "Risk Factors" in the Company's filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements contained in this press release are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.
The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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