Chanticleer Holdings Announces Merger S-4 Effective by SEC

Sets Meeting Date of Shareholders Relating to Previously Announced Business Combination with Sonnet BioTherapeutics

CHARLOTTE, N.C., Feb. 14, 2020 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the “Company”), owner, operator, and franchisor of multiple nationally recognized restaurant brands, today announced that its registration statement on SEC Form S-4 (the "Registration Statement") filed with Securities and Exchange Commission (the "SEC") in connection with its previously announced merger with Sonnet BioTherapeutics, Inc. (“Sonnet”) was declared effective by the SEC on February 11, 2020.

The special meeting of the Chanticleer stockholders to approve the proposals related to the merger (the “Special Meeting”) will be held on March 18, 2020, at 9:00 a.m., local time, at the offices of Lowenstein Sandler LLP located at One Lowenstein Drive, Roseland, NJ 07068, unless postponed or adjourned to a later date.

The Registration Statement includes a definitive proxy statement and prospectus. Notice of the Special Meeting and a definitive proxy statement/prospectus were mailed on February 14, 2020 to stockholders of the Company as of the record date for the Special Meeting of January 24, 2020.

Stockholders who have questions about the merger or the Special Meeting, or desire additional copies of the proxy statement/prospectus or additional proxy cards or voting instruction forms should contact the Company’s proxy solicitor at:

Alliance Advisors
200 Broadacres Drive, 3rd Floor
Bloomfield, NJ 07003
Toll Free: 800-574-6216

The closing of the merger is subject to approval by Chanticleer’s stockholders and the satisfaction of other customary closing conditions.

Following the merger, Chanticleer will be renamed “Sonnet BioTherapeutics Holdings, Inc.” The shareholders of Sonnet will become the majority owners of Chanticleer’s outstanding common stock upon the closing of the merger. Additionally, as part of this transaction, Chanticleer will spin-off (the “Disposition”) its current restaurant operations, including all assets and liabilities, into a newly created entity (the “Spin-Off Entity”), the equity of which will be distributed out to the stockholders of Chanticleer as of the record date for the Disposition.