checkAd

     135  0 Kommentare Franchise Group, Inc. Announces Full Exercise of Underwriters’ Option in Public Offering of Common Stock

    ORLANDO, Fla., July 30, 2020 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) announced today the underwriters of its previously announced underwritten public offering have exercised in full their option to purchase an additional 630,000 shares of common stock at the public offering price of $23.25 per share, resulting in approximately $13.8 million of additional net proceeds, after underwriting discounts and offering expenses. The exercise of the option is expected to close on August 3, 2020, subject to customary closing conditions.

    After giving effect to the full exercise of the option, the total number of shares of common stock sold by the Company in the offering increased to 4,830,000 shares and the estimated net proceeds after underwriting discounts and offering expenses are approximately $106 million. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

    B. Riley FBR, Inc. served as the lead book-running manager in the offering. Stephens Inc. also served as a book-running manager in the offering. Barrington Research Associates, Inc., CJS Securities, Inc. and National Securities Corporation served as co-managers in the offering.

    The offering of these securities is being made pursuant to an effective shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission (the “SEC”) on January 31, 2020, and declared effective by the SEC on June 22, 2020. The offering may be made only by means of a prospectus and prospectus supplement. A final prospectus supplement and the accompanying base prospectus relating to the offering have been filed with the SEC and are available on the website of the SEC at http://www.sec.gov or by contacting: B. Riley FBR, Inc., 1300 17th Street North, Suite 1300, Arlington, Virginia 22209, Attn: Prospectus Department, Email: prospectuses@brileyfbr.com, Telephone: (703) 312-9580.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Franchise Group, Inc.

    Franchise Group, Inc. (NASDAQ: FRG) is an operator of franchised and franchisable businesses and uses its operating expertise to drive cost efficiencies and grow its brands. Franchise Group’s business lines include Liberty Tax Service, Buddy’s Home Furnishings, American Freight and The Vitamin Shoppe. On a combined basis, Franchise Group currently operates over 4,100 locations predominantly located in the U.S. and Canada that are either Company-run or operated pursuant to franchising agreements.

    Seite 1 von 3


    globenewswire
    0 Follower
    Autor folgen

    Verfasst von globenewswire
    Franchise Group, Inc. Announces Full Exercise of Underwriters’ Option in Public Offering of Common Stock ORLANDO, Fla., July 30, 2020 (GLOBE NEWSWIRE) - Franchise Group, Inc. (NASDAQ: FRG) (“Franchise Group” or the “Company”) announced today the underwriters of its previously announced underwritten public offering have exercised in full their option …